CBE Mobile Banking Glitch Attributed to Internal Program Error, INSA Reports

ADDIS ABABA – The Information Network Security Administration (INSA) has determined that a recent malfunction in the Commercial Bank of Ethiopia’s (CBE) mobile banking system was the result of a flow error during system modification, not a cybersecurity attack. This conclusion was shared during a press briefing by INSA Director-General Tigist Hamid today.

According to Ethiopian News Agency, the glitch, which affected numerous users of CBE’s mobile banking services, stemmed from a logical flow mismatch within the system’s code. This issue occurred during attempts to update the digital banking system, leading to unexpected behavior and disruptions for customers. The flow error interrupted the program’s intended logical sequence, causing operations to deviate from their designed course.

Tigist Hamid clarified that the disruption was neither the result of external nor internal cyber threats. “The specific finding from this source analysis shows that the glitch was not a cyber-threat from outside or inside. That is what I can say from INSA’s perspective. But it is a bug from the logical flow mismatch that arose from the modification of their digital banking system,” she stated.

The investigation into the incident was a collaborative effort involving INSA, CBE, and the Financial Intelligence Service. Despite initial concerns, it was confirmed that there were no attempted cyber attacks against the bank, either from within or from external sources.

The Director-General also emphasized the need for further investigation to ensure accountability and to prevent similar incidents in the future. The incident highlights the complexities and challenges of maintaining secure and reliable digital banking services in an era of increasing reliance on technology for financial transactions.