Bank Clerk $293M Error: Woman Fired After Napping Employee Mistakenly Transfers Millions [REPORT]

By Philip Ross on June 12, 2013 5:22 PM EDT

bank clerk error
A bank clerk’s $293 million error (222 million euros) caused his supervisor her job after she neglected to catch the mistake. (Photo: Reuters)

A bank clerk's $293 million error got the teller's supervisor fired. After the bank clerk nodded off on his keyboard, accidentally holding down the number 2 key (the incident happened in Germany, so 222,222,222 euro is the equivalent of $293 million) the bank clerk mistakenly transferred millions of dollars, instead of just $83. His supervisor, who missed the bank clerk's error, was swiftly terminated.

Like Us on Facebook

According to The BBC, the bank clerk who committed the careless error was transferring 64.20 euros when he dozed off with his finger resting on the keyboard. The result? A 222,222,222.22 euros transfer.

The incident, which took place in Germany on April 2, 2012, caused the bank clerk's 48-year-old supervisor, an employee of the bank for 26 years, to be let go.

CNN Money reports that court documents reveal the supervisor spent, on average, less than 1.4 seconds looking over 603 payments and between 1.5 and 3 seconds inspecting 105 payment transactions. Unless she had superhuman retinal scanning abilities, that's not enough time to catch a bank clerk's $293 million error.

Luckily for her, a court in the German state of Hesse ruled that the supervisor be given her job back. According to CNN Money, while the court recognized the $293 million mistake was serious, it would have been better if the bank had issued a stern counseling rather than a termination.

"The judges ruled that there had been no malicious intent on her behalf, and that she should have received a warning," BBC reports.

Financial transaction errors conducted via computers are so common there's even a name for it. According to the Telegraph, the problem of erroneous money management, called "fat finger error," costs financial institutions big bucks. One prime example of "fat finger error" syndrome comes from Japan, where, in 2005, a broker placed a sell order for 600,000 shares in a company that had issued a mere 14,000.

Also, in 2012, German media noted that Commerzbank accidentally deposited 200 million euros ($266 million) into a customer's account after he made a sale worth only 20,000 euros.

Read more from iScience Times:

$1 Million Math Problem: Banker D. Andrew Beal Offers Award To Crack Conjecture Unsolved For 30 Years

Why Medvedev Says His Failed Space Program is Bankrupting Russia

Popcorn Lung Couple Files For Bankruptcy Eight Years After Winning $20 Million Lawsuit

© 2012 iScience Times All rights reserved. Do not reproduce without permission.

Join the Conversation

Sponsored From Around the Web

    ZergNet
Follow iScience Times
us on facebook RSS
 
us on google
 
Most Popular
INSIDE iScience Times
Do Dolphins Get High? BBC Cameras Catch Dolphins Chewing On Pufferfish Toxins
Do Dolphins Get High? BBC Cameras Catch Dolphins Chewing On Pufferfish Toxins
How Many Ways Can You Tie A Tie?
How Many Ways Can You Tie A Tie?
Ribbon Of Charged Particles At Solar System's Edge Acts Like A Wind Sock For Interstellar Magnetism
Ribbon Of Charged Particles At Solar System's Edge Acts Like A Wind Sock For Interstellar Magnetism
How to Turn Your Tap Water Faucet  Into a Coffee Spout [VIDEO]
How to Turn Your Tap Water Faucet Into a Coffee Spout [VIDEO]
Coolest Science Photos Of 2013: From Blobfish To Two-Headed Shark, Comet ISON To Mars Selfie
Coolest Science Photos Of 2013: From Blobfish To Two-Headed Shark, Comet ISON To Mars Selfie
This Is A Scientifically-Proven Rock-Paper-Scissors Winning Strategy (But If Your Opponent Uses It Too, It's A Draw)
This Is A Scientifically-Proven Rock-Paper-Scissors Winning Strategy (But If Your Opponent Uses It Too, It's A Draw)