JUST IN: Central Bank Hacked And Over 62 Billion Allegedly Stolen

Central Bank Hacked: Over 62 Billion Allegedly Stolen
Central Bank Hacked: Over 62 Billion Allegedly Stolen
Cybersecurity Breach Rocks Uganda’s Central Bank as Officials Downplay Losses and Lawmakers Demand Transparency

KAMPALA, UGANDA– Uganda’s Ministry of Finance has confirmed a cyberattack on the country’s central bank but dismissed claims that hackers made away with as much as $17 million.

The breach, which occurred two weeks ago, is under investigation by the Auditor General and the Criminal Investigations Department (CID).

Speaking before lawmakers on Thursday, Minister of State for Finance Henry Musasizi acknowledged the hack but downplayed the alleged financial losses.

“It is true that our account was hacked, but not to the extent of what is being reported,” Musasizi told Parliament.

He urged patience, pledging that a comprehensive report would be presented within a month to prevent misinformation from spreading.

Conflicting Reports on Losses

$17 Million Stolen from Uganda’s Central bank.
$17 Million Stolen from Uganda’s Central bank.

Local media outlets have provided conflicting figures on the stolen amount. The New Vision newspaper claimed the hacking group “Waste,” allegedly based in Southeast Asia, siphoned off 62 billion Ugandan shillings (approximately $17 million).

Meanwhile, The Daily Monitor reported the stolen funds amounted to 47.8 billion shillings (about $13 million), with transfers traced to accounts in Japan and the UK.

According to The Monitor, UK authorities have frozen $7 million of the stolen funds, though some had already been withdrawn. The syndicate reportedly managed to move $6 million to Japan.

Lawmakers Demand Answers

The attack has sparked alarm among lawmakers, who questioned the security of Uganda’s financial systems. Opposition MP Joel Ssenyonyi criticized the lack of transparency, stating:

“This is our central bank. I thought the government should help us understand; it is important that we know what exactly is happening.”

Both the Bank of Uganda and police officials have refrained from commenting until the investigation is complete.

As the probe continues, the breach has raised pressing questions about cybersecurity at the heart of Uganda’s financial system. A detailed report is anticipated in the coming weeks.


Copyright 2024 REPORT AFRIQUE (RA). Permission to use portions of this article is granted provided appropriate credits are given to www.reportafrique.com and other relevant sources.This Article is Fact-Checked. See Policy.
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