The Commercial Bank of Ethiopia (CBE) today denied rumors that it had been robbed of 7.7 billion birrs.
The bank said that the attempt to illegally transfer money had been successfully foiled and it lost no money. Perpetrators have been identified. They are under custody and being investigated by law enforcement agencies, CBE said.
Since yesterday rumors have been ongoing that the Commercial Bank of Ethiopia had lost around 7.7 billion birr through illegal money transfer.
Last year CBE lost $14 million during a technical glitch. The bank took months to recover the money.
Through today’s statement, CBE assured its customers that the surveillance and security systems in place are working effectively. However experts say that the Commercial Bank of Ethiopia needs to upgrade its systems to fight illegal money transfers.
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