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ATM glitch allows customers to withdraw funds beyond their balance

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A technical glitch within Bank of Ireland’s online app has enabled customers with insufficient account balances to transfer and withdraw funds from ATMs.

The flaw allowed individuals to deposit money into a digital account linked to Revolut and subsequently withdraw cash from various ATMs.

Reports suggest some customers managed to access substantial sums, with claims of withdrawals reaching up to €1,000, although the bank asserts that the established daily withdrawal limit remains at €500.

The issue triggered a series of events that caught social media attention, portraying long lines at ATMs in different cities and instances of law enforcement being present at pay points.

The bank confirmed the existence of a technical problem affecting multiple services, including its mobile app and online banking portal, 365Online, on Tuesday.

It issued a cautionary advisory to customers, clarifying that any funds withdrawn or transferred beyond regular limits would eventually be deducted from their accounts.

The bank further encouraged customers not to engage in transfers or withdrawals that could lead to overdrawing.

Acknowledging the disruption, Bank of Ireland conveyed that both the mobile app and 365Online had been restored to operational status by Wednesday.

The bank anticipated that overnight payments would gradually reflect throughout the day.

It confirmed its awareness that the technical glitch had permitted certain customers to surpass their standard withdrawal and transfer limits.

These over-the-limit transactions were stated to be processed within the customers’ accounts on that day.

The bank urged customers facing potential financial strain due to overdrawing to make contact for assistance.

This incident follows a previous IT outage at the bank in June, though the earlier outage did not grant individuals access to funds beyond their account balances.

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Commercial real estate targeted for producing 40% of global emissions

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Commercial real estate contributes significantly to global emissions, with reports suggesting it makes up to 40% of the total – so is there a solution in sight?

Global strategies are setting out to transform this impact by promoting the development of sustainable buildings.

As climate change continues to be a pressing global issue, the commercial real estate sector must pivot towards more eco-friendly solutions.

One of the most impactful actions that can be taken to mitigate the environmental impact of commercial real estate is the implementation of building automation systems.

Louise Monger, Vice President, Digital Buildings of Schneider Electric, joins to share her key insights into the issue. #featured

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Australia’s electricity grid faces an urgent overhaul as consumption dramatically doubles

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By 2050, AEMO has predicted that Australia’s electricity use will double due to renewable energy and electrification, prompting a necessary overhaul of the country’s aging power grid.

The adoption of renewable energy sources and electrification is set to double Australia’s electricity consumption by 2050.

The fast-adoption has created an urgent need for reconfiguration and enhancement of the nation’s century-old electricity grid.

James Hunt, Pacific Vice President of Power Systems and Services of Schneider Electric joins to discuss. #featured

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House of the Dragon season 2 profits despite review scores

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Viewership Surge: 1 Million Revisit “House of the Dragon” Ahead of Season 2.

 

HBO took a big bet on its “Game of Thrones” spin-off, with one million people rewatching the first season of “House of the Dragon” in the days leading up to the Season 2 premiere, according to Warner Bros. Discovery. However, not all reviews have been glowing. #featured #trending

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