Bank of Maldives (BML) has announced that they have temporarily halted the processing of payroll and bulk transfers via Internet Banking, as well as Favara.
In a post on social media, the bank announced that deposits of large amounts must henceforth be requested via email, as it was done earlier. Requests can be sent to [email protected].
We have temporarily stopped instant processing of payroll and bulk transfers via BML Internet Banking as well as bulk transfers via Favara.We will continue to accept bulk and payroll processing requests sent via email to [email protected]— Bank of Maldives (@bankofmaldives) August 3, 2024
BML has placed these changes in effect after the bank erroneously deposited USD 77 billion in accounts of employees of Lily Beach during last month's payroll processing. The bank assured at the time that the transfers had been reversed, and that no loss was caused due to this error.
They said that it had occurred due to human error in relation to changes brought to the bulk payment system, and that the bank had not faced any financial loss due to the error.