[sthlm]

From the article:

> “A bank mistakenly making such a large transfer shows its controls aren’t working adequately, and it’s embarrassing,” said Dieter Hein, an analyst at Fairesearch

Also:

> The error should have been caught by an internal fail-safe system known as a "bear-trap,"

The issue is not that someone said "let's not have any controls", but that the controls failed.

Additionally, yes, ranking all transaction and double-checking the big ones should probably be part of a fail-safe, but I assume that even more harm could be done by a larger amount of minor issues that go unnoticed over a longer period of time.