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

theregister.co.uk

71–80 of 114 posts

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

#71
post #45

Earlier quoted context omitted.

Should have written TODO

I've seen the XXX suffix in the CPython source code - what does it mean compared to TODO?

Arbitrary short and easy to remember string presumed to be unlikely to generate false positives when searched for. TODO can generate false positives if your system actually deals with todo items, etc.

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

#72
post #70
post #54

Earlier quoted context omitted.

Should we discuss about all the 15 years old bugs that are found in Windows, Linux and MacOS which are well into production (and many of them critical bugs that affect the core of the product)? Has a software company ever been fined or held liable for bugs in its products? In fact too often, bug fixes are paid updates. Financial companies are held to extraordinary standards, and in my opinion it's a game they cannot…

This is not a minor bug, this is a bug that caused data to be misrepresented. If you want to compare it to OS bugs, then you need to look at silent data corruption: how many data corruption bugs have gone undetected in operating systems for 15 years?

You mean a server OS leaking kernel memory to any external connection doing something special with TLS without leaving any audit trail that this happened is a minor bug?

We could talk about the OS driver shit show too!

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

#73
post #33

Earlier quoted context omitted.

Indeed, Martha Stewart is a prime example of how NOT to deal with the SEC. Turns out she wasn't guilty of insider trading, but she still went to jail for lying to the SEC about the trades in the first place. They take that very seriously.

This particular example seems to reinforce the argument for saying nothing at all .

And run the risk of losing big, instead of knowing for sure you'll lose small. Can you get a good estimation of the risk? If not, can you (not your company: you) afford the big loss?

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

#74
post #70
post #54

Earlier quoted context omitted.

Should we discuss about all the 15 years old bugs that are found in Windows, Linux and MacOS which are well into production (and many of them critical bugs that affect the core of the product)? Has a software company ever been fined or held liable for bugs in its products? In fact too often, bug fixes are paid updates. Financial companies are held to extraordinary standards, and in my opinion it's a game they cannot…

This is not a minor bug, this is a bug that caused data to be misrepresented. If you want to compare it to OS bugs, then you need to look at silent data corruption: how many data corruption bugs have gone undetected in operating systems for 15 years?

The notorious (and still disputed) HFS+ bit-rot issues?

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

#75
post #22
post #15

Earlier quoted context omitted.

> Citigroup failing to send information on 26,810 transactions in over 2,300 such requests. 26810 requests, do you think they made more than $7m on this? It's about proportional fines. Just because they're a giant company doesn't mean we should find then $1b for forgetting to put a handicapped parking space at one of their offices.

There is a school of thought that punitive fines should be a proportion of company value/earnings rather than an absolute dollar figure to exact an equal amount of discomfort. I think Finnish speeding fines are a percent of income.

Fines that aren't proportional are unfair to the poor and too lenient for the wealthy.

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

#76
post #63
post #40

Earlier quoted context omitted.

Yeah though even then it was connected to the coffee revenue, right? I feel like this school of thought is also the one that ends up with things like "3 strikes and you're 25-to-life"

I think I see what you're getting at: punishments or penalties for offences that are arguably disproportionate to the crime. On the other hand I think there is a gulf of difference between "3 strikes" laws and punitive damages being awarded against a company for an arguably frivolous lawsuit. The former will disproportionally target people who are relatively disadvantaged, e.g. people living in poverty or drug addict…

> an arguably frivolous lawsuit.

I know you're not talking specifically about mcd coffee suit, but there's nothing arguable about that one; because there's still some measure of belief that it was frivolous here's a quote taken from the wikipedia article[0]:

> Liebeck was taken to the hospital, where it was determined that she had suffered third-degree burns on six percent of her skin and lesser burns over sixteen percent. She remained in the hospital for eight days while she underwent skin grafting. During this period, Liebeck lost 20 pounds (9 kg, nearly 20% of her body weight), reducing her to 83 pounds (38 kg). After the hospital stay, Liebeck needed care for 3 weeks, provided by her daughter. Liebeck suffered permanent disfigurement after the incident and was partially disabled for two years.

[0] https://en.wikipedia.org/wiki/Liebeck_v._McDonald%27s_Restau...

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

#77
post #60

Earlier quoted context omitted.

This particular example seems to reinforce the argument for saying nothing at all .

Directors of companies have legal responsibilities to provide these reports to the government. So instead of the company getting a fine for making a mistake even though you tried to comply, now you are personally choosing not to fulfil your legal obligations as a director. Smart move.

> Directors of companies have legal responsibilities to provide these reports to the government.

What if you don't tell the directors, but just fix the problem you have discovered? Is everyone off the hook then, or does that also amount to breaking the law (in some country)?

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

#78

$7m is pocket change for Citigroup. No wonder the big banks keep shitting the bed. There's never any real consequences for their fuckups.

Citigroup was $7 BILLION for their mortgage fraud. [1] I think that can be considered a "real consequence." This was a far less severe infraction, and the fine was correspondingly much lower.

[1] http://www.reuters.com/article/us-citigroup-settlement-doj-i...

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

#79
post #22

Earlier quoted context omitted.

There is a school of thought that punitive fines should be a proportion of company value/earnings rather than an absolute dollar figure to exact an equal amount of discomfort. I think Finnish speeding fines are a percent of income.

There is a school of thought that punitive fines should be a proportion of company value/earnings rather than an absolute dollar figure to exact an equal amount of discomfort. In the infamous McDonald's coffee lawsuit, this was actually the motivation behind the initial large damage award. The jury attempted to award punitive damages equal to two days' worth of McDonald's coffee revenue. (obligatory note here for the…

> which is not generally what one expects from coffee

I disagree. I think it's reasonable to expect that coffee and other hot drinks might be all the way up to boiling.

> in a temperature range making burns more likely

Is there a particular range for burns? Isn't it simply that the hotter it is, the more burns you get?

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

#80

$7m is pocket change for Citigroup. No wonder the big banks keep shitting the bed. There's never any real consequences for their fuckups.

This is the sort of comment why people vote for Trump. They made a mistake, a programming mistake no less, something many people here have done. Then fully admitted it when they found out. Yet this is them being evil? No wonder people vote against the left.

Who said anything about being evil? If my car manufacturer has a bug in their manufacturing process and I die in a ball of fire as a result, they weren't being evil (they didn't intentionally kill me), but it doesn't change the fact that they screwed up and are going to have to make amends.

Citigroup screwed up. Now they have to pay a fine. If they get off the hook for free, how is that fair to their competitors, who also had to do this rather tedious reporting?

Same here,

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