Kweku Zurek International News
May – 02 – 2024 , 12:28
In a recent official statement, the African Union (AU) addressed a disturbing incident involving an attempted fraudulent withdrawal of funds from their accounts held at the Commercial Bank of Ethiopia (CBE).
The AU praised the swift response and vigilance of the CBE staff and their own finance department, which successfully thwarted the fraudulent attempt. This action prevented the unauthorized withdrawal of funds, preserving the integrity of the AU’s financial controls and management.
The incident occurred on April 15, 2024, when a series of Payment Transfer Orders were submitted to the CBE branch located within the African Union Headquarters in Addis Ababa.
These orders, totaling over $6 million, were submitted by an individual not associated with the African Union. They purported to allocate significant funds to various recipients under the guise of construction and water drilling projects.
Upon careful scrutiny, the AU’s Finance Directorate determined that the submitted documents were clear forgeries. This discovery prompted immediate action to prevent any potential financial loss.
The relevant security authorities of the Federal Democratic Republic of Ethiopia were promptly notified, leading to efforts to identify and apprehend the individuals involved according to investigative procedures.
The AU highlighted the seriousness with which it views this incident, acknowledging the insights gained into potential vulnerabilities. As a result, a comprehensive review of security measures is underway, with plans to collaborate closely with the Commercial Bank of Ethiopia to enhance protocols and prevent future fraudulent attempts against the AU’s finances.
The AU reiterated its commitment to maintaining the highest standards of financial governance and ethics, both internally and in partnership with financial service providers. They expressed gratitude to the leadership of the Commercial Bank of Ethiopia and the Government of the Federal Democratic Republic of Ethiopia for their swift intervention and support during this challenging situation.
AU claims $6 million attempted fraud foiled APAnews 10:01