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Dhaka Tribune

Deutsche Bank accidentally transfers $6bn

Update : 20 Oct 2015, 12:28 PM

Germany’s biggest lender, Deutsche Bank, accidentally sent $6bn to a client after entering the wrong numbers, Bloomberg News reported.

A junior member of the investment bank’s foreign exchange sales team made the error in June, Bloomberg reported, citing a person briefed on the situation.

The $6bn was sent to a US hedge fund client and recovered one day later, and occurred after the employee used a “gross figure rather than a net figure”, according to the report.

The incident follows a series of scandals at the Frankfurt-based bank, which has launched a major business and management shake-up.

Its two co-chief executives, Anshu Jain and Juergen Fitschen, resigned in June over missed profit targets and missteps, and were replaced by new co-CEO John Cryan.

The bank is mired in roughly 6,000 legal cases and received a record $2.5bn fine in May for its role in rigging interest rates.

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