Deutsche Bank pays hedge fund client $6bn 'by mistake'

FRANKFURT: -- Deutsche Bank is back under the spotlight – for mistakenly sending a payment of six billion dollars to a US hedge fund client.

The money was paid back to Germany’s biggest bank the next day.

But it represents more embarrassment for the bank which is already under scrutiny from regulators.

Sources say the payment was made by a junior member of Deutsche Bank’s foreign-exchange sales team in June while their boss was on holiday.

A gross rather than net figure was reportedly paid, meaning the payment had “too many zeros”.

The incident was reported but questions are being asked as to why the payment wasn’t reviewed.


-- (c) Copyright Euronews 2015-10-21

Ehhhhh.... could somebody pass on my account number to that junior clerk.... just in case..!

Ehhhhh.... could somebody pass on my account number to that junior clerk.... just in case..!

Its called hedging your bets. This same bank I think claimed they lost 6 billion dollars or paid that in fines cannot remember which. There are so many banks in the news lately with their hand being caught in the cookie jar. Bank fraud is so common place today and acceptable like back in 2008. Nobody goes to jail they pay a whopping fine and up their banking fees to recover their money from us. Case closed.