Ethiopia’s Information Network Security Administration says “disordered code” was used in CEB mobile system –

1 minute, 36 seconds Read


Toronto –  Ethiopia’s Information Network Security administration (INSA) – it is like the cyberwing of Ethiopia’s intelligence system – on Friday remarked about the Commercial Bank of Ethiopia “system glitch.” 

Tigist Hamid, Director,  said  INSA has been responding to the “system glitch” to the digital banking system of the commercial bank of Ethiopia since it was reported on March 16. 

She added  “We have been doing a cyber security check and we were able to confirm that the glitch has nothing to do with a cyber attack.”

However, said INSA, we have done a detailed analysis of the issue that caused the problem. “The bank has made changes to its mobile banking to improve the system…but the logical flow of the source code was disordered.”  Earlier this week, Commercial Bank of Ethiopia President , Abe Sano, said there was “a missing code.”

It added that the system was releasing money without checking account balances of clients. 

Why the system was changed without a test of the new system or why the “logical flow” of the source code of the new mobile system was not tested before it was implemented is not addressed.

Commercial Bank of Ethiopia has disclosed that over 490,000 transactions were completed in a few hours during the systemic glitch but it has not disclosed the total amount of money it lost. Sources indicate that somewhere between 5 and 10 billion birr was lost. The bank has started a campaign to recover it. 

Watch ha INSA had to say about the problem from the video below 

[embedded content]

Video : embedded from FBC  YouTube channel
Cover photo : screenshot from the video

Join our Telegram Channel :

Like borkena on Facebook

Add your Business to Ethiopian Business Listing / Ethiopian Business Directory

Ethiopian News Video

Join the conversation. Follow us on X (formerly Twitter ) @zborkena to get the latest Ethiopian News updates regularly. Ethiopia Subscribe to YouTube channel To share information or for submission, send an e-mail to [email protected] 

This post was originally published on the 3rd party site mentioned in the title of this this site

Similar Posts