Due to a human error during payment processing, some accounts had been credited with USD 77 million. BML has said that the affected accounts have been identified and the reversals have been processed.
Bank of Maldives (BML) has resolved the issue that caused erroneous deposits in some accounts.
The bank confirmed that the affected accounts have been identified and the reversals have been processed.
The issue, which involved some employees of Lily Beach Resort being credited with USD 77 million had surfaced yesterday. The employees' salaries were mistakenly credited in dollars to match their account numbers.
After several hours of disruption in internet banking services, BML attributed the issue to human error during payment processing.
Due to a human error during payment processing today, some accounts were credited erroneously. These accounts were identified and the reversals have now been processed.
— Bank of Maldives (@bankofmaldives) August 1, 2024
There has been no financial loss due to this isolated incident which occurred with a recent change in bulk…
BML stated that there was no financial loss resulting from the incident, which occurred due to a recent change in bulk payments used for payroll processing.
The bank has apologized for the inconvenience caused by interruptions to their internet and mobile banking services on Thursday.
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