Ethiopia's Biggest Bank Recovers 80% of Funds Lost in System Glitch
The Commercial Bank of Ethiopia has successfully recouped nearly $14 million of the $40 million lost, urging the remaining debtors to return the funds.
- Nearly 80% of the cash lost during a system glitch has been recovered by Ethiopia's biggest bank.
- Around $14 million was recouped from the initial $40 million lost due to unauthorized withdrawals.
- The glitch allowed customers to withdraw more money than they had in their accounts, affecting nearly 15,000 people.
- 567 individuals have not yet returned the funds, prompting the bank to publicly post their names and account details.
- The bank emphasizes the importance of fully recovering the funds to send the right message, despite the remaining amount being relatively insignificant.
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