Citigroup fined $7m over 15-year coding error in bank's reporting systems

clock • 2 min read

Regulators criticise bank over the error, and for not reporting it when it was uncovered

A programming error that was allowed to fester for 15 years has cost global banking giant Citigroup a $7m (£5.3m) fine from the Securities and Exchange Commission (SEC), the US financial services r...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

You may also like
Don't encourage kids to code, says Nvidia CEO

Skills

AI threatens the future of coding

clock 29 February 2024 • 3 min read
How a software development bootcamp helped me switch to a career in tech

Developer

'I discovered that coding was something that really suited me'

clock 01 December 2023 • 4 min read
Interview: Symmetry, Cloud Excellence Awards finalist

Cloud Computing

'We always try to look at the software from the point of view of the customer"

clock 09 August 2023 • 3 min read

More on Developer

 Github releases results of first empirical study of DevEx

Github releases results of first empirical study of DevEx

Results show that improving developer experience matters more than you might think

Penny Horwood
clock 24 January 2024 • 4 min read
Researchers unveil AI-driven software verification breakthrough

Researchers unveil AI-driven software verification breakthrough

Most effective and efficient means yet devised for verifying software correctness, they claim

clock 08 January 2024 • 2 min read
Life after Oracle: Redefining Java in the enterprise in 2024

Life after Oracle: Redefining Java in the enterprise in 2024

Ignore the cool kids. 2024 will see Java redefine its value to enterprise

Simon Ritter
clock 08 December 2023 • 5 min read