Hackers breached the Bank of Uganda’s systems, stealing 62 billion shillings ($17 million), according to New Vision.
About 37 billion shillings has been recovered.
The details
- The attack was allegedly carried out by a Southeast Asian group called “Waste.”
- The Daily Monitor reports the stolen funds were funneled into accounts in Japan and the UK in September.
- The breach is believed to be an “inside job,” with several employees from the central bank and finance ministry under investigation.
The response
- Uganda’s police and the auditor general’s office are investigating.
- The central bank has not commented publicly.
Why it matters
The breach exposes vulnerabilities in Uganda’s financial systems and raises concerns about insider threats in key government institutions.
Source: Bloomberg
