Bank employee falls asleep on keyboard, transfers Rs 2,000 Crore in online transaction – What happened next

In a bizarre incident that could have had far-reaching financial consequences, a bank employee in Germany accidentally transferred a staggering €222 million (approximately Rs 2,000 crore) instead of the intended €64.20. The error, attributed to a momentary lapse in attention, sent shockwaves through the financial world.

The incident occurred in 2012 when an exhausted bank clerk inadvertently fell asleep while processing a transaction with a finger pressed on a key. This led to the astronomical transfer, which was fortunately caught by another vigilant employee before it could be finalized.

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Another employee identified the massive error just in time, preventing the $234 million (nearly Rs 2,000 crore) transaction from going through. According to an ET report, the resurfaced story sparked a lively debate online.

The mistake was initially approved by the supervisor overseeing the clerk’s work, who failed to spot the error. The bank later terminated the supervisor for negligence in verifying the transaction, leading to a legal battle that involved the German bank.

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According to the ET report, the Hesse state court deemed the supervisor’s dismissal to be unjustified. The court acknowledged that while she may have overlooked the error, her actions did not warrant termination. The judges noted she was under significant time pressure, reviewing hundreds of transactions daily. On the day of the incident, she processed 812 documents, spending only a few seconds on each, leaving limited room for thorough scrutiny.

The court emphasized that there was no evidence of intentional misconduct or gross negligence on her part. Instead of dismissal, a formal warning would have sufficed. The judges also criticized the bank for placing unreasonable expectations on the supervisor and failing to implement automatic error-detection systems. Consequently, they ordered her reinstatement, as reported by ET.