Ugandan Central Bank hits by $17 Million cyber Heist

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In a daring cyber heist, a hacking group known as “Waste” infiltrated the Bank of Uganda’s IT systems and transferred 62 billion Ugandan shillings ($16.8 million) earlier this month.

The attackers, allegedly based in Southeast Asia, rerouted a portion of the funds to Japan, raising suspicions of global money-laundering networks.

While the central bank has reportedly recovered over half of the stolen funds, insider collusion is suspected, Daily Monitor reported.

President Yoweri Museveni has ordered an investigation into the breach, which highlights growing concerns over cybersecurity in Uganda’s financial sector.

Ugandan banks and telecom firms have faced similar attacks in the past, with many reluctant to disclose incidents for fear of reputational damage.

 

Reuters/Patience Ameh

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