German bank converts $ 6 billion mistake

Alsumaria News / Baghdad - "Bank issued Deutsche Bank," the German media headlines again, after he had transferred about $ 6 billion to one of its clients from hedge funds because of employee error.

The newspaper "Financial Times" British quoting a source as saying that a young staff in exchange sales team in the bank performed the conversion process, while he was boss on vacation, so by sending Total bank account to a customer, rather than the value of the conversion required.

The newspaper added that the incident occurred in June, noting that the Bank has regained his money again the next day, also reported it to the European Central Bank, the US Federal Reserve, and the British authorities.

And it faced the German bank within a year of substantial financial difficulties, which pay a record fine of $ 2.5 billion in the month of May because of the involvement of manipulating interest rates on loans, and led this fine to the resignation of all of Jurgen Evchen Wanshou Gaaan, executives of the bank. In addition to the involvement of "Deutsche Bank" in other legal issues worth $ 6 billion.

In the month of October, the bank announced the biggest quarterly loss in the last 10 years, amounted to 7.6 billion euros, led him to announce major changes as part of a restructuring plan in order to restore his reputation and resume profit.