Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#1

Post by adamnemecek » Thu, Jul 14, 2016, 12:53 AM UTC

Citigroup fined $7m after legit transactions mistaken for test data for 15 years
theregister.co.uk

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#2

Post by jonknee » Thu, Jul 14, 2016, 1:21 AM UTC

They didn't lose anything, they were FINED $7m for submitting incorrect reports. With the number of mergers that they have gone through it's not surprising they have trouble with company wide reporting.

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#3

Post by adamnemecek » Thu, Jul 14, 2016, 1:22 AM UTC

jonknee wrote: post #2

They didn't lose anything, they were FINED $7m for submitting incorrect reports. With the number of mergers that they have gone through it's not surprising they have trouble with company wide reporting.

Edited.

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#4

Post by [deleted] » Thu, Jul 14, 2016, 1:24 AM UTC

[deleted]

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#5

Post by azurezyq » Thu, Jul 14, 2016, 1:24 AM UTC

Seems to be something like "089" < x < "100", should never use "range" to handle string ids.

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#6

Post by twunde » Thu, Jul 14, 2016, 1:29 AM UTC

I think the most impressive part is that apparently the same system and code had been running for 15 years as the number of transactions reported on had increased exponentially

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#7

Post by BallinBige » Thu, Jul 14, 2016, 1:39 AM UTC

what were these transactions for?

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#8

Post by jmtulloss » Thu, Jul 14, 2016, 1:39 AM UTC

azurezyq wrote: post #5

Seems to be something like "089" < x < "100", should never use "range" to handle string ids.

There's probably a comment above it

  // XXX: too general, revisit when we have more than 100 branches

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#9

Post by mherkender » Thu, Jul 14, 2016, 1:49 AM UTC

twunde wrote: post #6

I think the most impressive part is that apparently the same system and code had been running for 15 years as the number of transactions reported on had increased exponentially

I think it's the bad kind of impressive, one where ATMs still run COBOL.

Re: Citigroup fined $7m after legit transactions mistaken for test data for 15 years

#10

Post by mjcl » Thu, Jul 14, 2016, 1:57 AM UTC

BallinBige wrote: post #7

what were these transactions for?

Trades (stock, etc) the bank and/or their clients made.