After the error that caused the withdrawal of $40 million… Did the bank get its money back?


Ethiopia’s largest bank said it has recovered nearly 80% of the money it lost during what it says was a glitch in its system that allowed customers to withdraw more money than was in their accounts..

Abe Sano, head of the Commercial Bank of Ethiopia, told reporters on Tuesday that about $14 million was withdrawn or transferred digitally during the holidays.

Abe Sano stated that the value of the transfers ranged from 9 cents to $5,350.

The amount initially announced as a loss was $40 million.

About 15,000 people voluntarily returned the money that was “illegally taken,” the bank said in a statement..

Abe Sano said, “The total remaining amount is not large for the bank, but if this money is not fully recovered, it sends the wrong message.”“.

AndHe stressed that if individuals do not return the money to the bank voluntarily, the matter will be raised to the legal authority by carrying out the necessary tasks in accordance with the directives previously specified by the bank..

The bank indicated that 567 people have not yet returned the money that does not belong to them, and on Tuesday it published their names and account information on the Internet in an apparent attempt to expose them and pressure them to return the money..

( Russia Today)

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