Free withdrawals for hours at the branches of this bank. 37 million euros stolen

The Commercial Bank of Ethiopia (CBE) suffered a technical glitch last Saturday that allowed customers to withdraw more money than was in their accounts.
Free withdrawals for everyone.
The news spread quickly through social media and it is estimated that over 40 million dollars (the equivalent of approximately 37 million euros) was withdrawn or transferred to other accounts before the error could be corrected.
According to bank representatives, most of the withdrawals were made by students, and on-site witnesses reported long queues at ATMs on university campuses in Ethiopia.
One of the students told the BBC that he had learned from a friend that it was possible to withdraw large sums of money from the ATM for free, but also to make transfers via the bank's app.
The withdrawals made it necessary for the police to intervene on various campuses to disperse the students queuing.
read also Safest banks in Italy in 2024, the ranking (explained) The Central Bank of Ethiopia on Sunday announced that a technical error occurred at the CBE, which boasts almost 40 million customers among the Ethiopian population.
The central bank said the error occurred during maintenance of the bank's computer system.
CBE President Abe Sano commented on the incident the next day, stressing that the withdrawals made were small compared to the bank's total assets.
However, according to local media it is over 40 million dollars, equivalent to approximately 37 million euros.
At least three universities in the country, according to the BBC, have invited their students to return the money unduly withdrawn.
The CBE in turn assured that customers who took advantage of the error do not risk prosecution, provided they return the money to the bank.
Again according to the BBC, which refers to information disseminated by local media, representatives of the CBE visited several universities in the country to collect the money taken from the students.
However, it is not yet clear to what extent these efforts are succeeding.
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