Commercial Bank of Ethiopia glitch lets customers withdraw millions

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Home Panorama Commercial Bank of Ethiopia glitch lets customers withdraw millions 20-03-2024 11:07 AM Ammon News - Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a "systems glitch". The customers discovered early on Saturday that they could take out more cash than they had in their accounts at the Commercial Bank of Ethiopia (CBE). More than $40m (£31m) was withdrawn or transferred to other banks, local media reported. It took several hours for the institution to freeze transactions. BBC

Home Panorama

Commercial Bank of Ethiopia glitch lets customers withdraw millions

20-03-2024 11:07 AM

Ammon News - Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a "systems glitch".

The customers discovered early on Saturday that they could take out more cash than they had in their accounts at the Commercial Bank of Ethiopia (CBE).

More than $40m (£31m) was withdrawn or transferred to other banks, local media reported.

It took several hours for the institution to freeze transactions.

BBC

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