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Fraud: Citibank experts to probe Ethiopian national bank's security code system

18 Nov 2008

Experts from Citibank, the New York-based banking giant that recently was swindled of 27 million dollars from the Ethiopian National Bank's US account, have scheduled to visit the National Bank of Ethiopia (NBE) within the next few weeks to verify NBE's SWIFT security code system through which the two banking entities have been communicating.

NBE had made a claim to Citibank for the amount defrauded.

A source close to the issue at NBE told Fortune that the international banking giant is sending its experts to verify the strength of the security system the national central bank.

Read the full article here.