Deutsche Bank’s Risk Systems in Question After Accidental €28b Transfer

[kreslik.news]

Accidents happen, though when they amount to billions there is typically a higher level of scrutiny involved. This was certainly the case after Deutsche Bank sent $34.5 billion (€28.0 billion) in error to an account at Deutsche Boerse Eurex late last month. The lender is calling it an ‘operational error’, intending to make a much smaller transfer instead, per an FT report.

The error once again calls into question Deutsche Bank’s operational prowess and competency. Back in 2015, a junior trader at the lender accidentally sent $6.0 billion in error. In this particular instance, junior member of Deutsche Bank’s ... (read more)