The Bank of Maldives (BML) has announced a temporary suspension of payroll and bulk transfers via internet banking. In addition to this, bulk transfers through Favara have also been paused. Despite th...
The Bank of Maldives (BML) has announced a temporary suspension of payroll and bulk transfers via internet banking.
In addition to this, bulk transfers through Favara have also been paused.
Despite the halt in these services, BML assured customers that bulk and payroll processing requests can still be submitted via email to [email protected].
This temporary suspension follows an incident last Thursday, where billions of dollars were mistakenly credited to multiple accounts.
The error, caused by human error during bulk payment processing, was resolved on the same day.
BML confirmed in a social media statement that there were no financial losses due to this isolated incident.
The error occurred following a recent change in the system used for payroll processing.
The bank has emphasized its commitment to addressing such issues promptly and maintaining the integrity of its services.
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