The cost of living is increasing now and it can be seen that many are complaining about the price of Ramadan bazaar food which is becoming less and less affordable. Many joked on social media that there was an issue with the bank that caused their account balance to increase immediately.
In Ethiopia, an error in a bank's software allowed many customers to withdraw more money from an ATM than their account balance. An error in the Commercial Bank of Ethiopia (CBE) software caused many customers to withdraw money without limits for several hours before it was noticed.
As a result the bank has recorded a loss of over $40 million (~RM190 million) so far. The majority of money is withdrawn by university students who spread the word that ATMs can withdraw unlimited money through messaging applications.
CBE has frozen all types of transactions to investigate how this could happen. Errors in the software are believed to have occurred during the system maintenance process and not as a result of a cyber attack. The university students are now being called to return the money that was issued and they will not face any legal action if they do so.