A senior official at Uganda’s finance ministry confirmed that accounts within the nation’s central financial institution had been hacked however he downplayed the extent of the losses.
The Financial institution of Uganda had stated late on Thursday it was awaiting a police investigation right into a information report that offshore hackers stole USh62-billion (R305-million) from the central financial institution.
State-owned New Imaginative and prescient newspaper reported on Thursday that hackers, figuring out themselves as “Waste”, accessed the Financial institution of Uganda’s IT techniques and illicitly transferred the funds earlier this month.
State minister for finance Henry Musasizi confirmed the hack and stated the police’s prison investigations division and the auditor-general have been probing the incident.
“It’s true our accounts have been hacked into however to not the extent of what’s being reported. When this occurred, we instituted an audit and on the similar time, and investigation,” he instructed parliament on Thursday.
“To keep away from misrepresentation of details, I want to indulge the home that we be affected person that when the audit is finalised, which is now on the tail finish, I come and report.”
The hacking group, based mostly in Southeast Asia, despatched a part of the stolen cash to Japan, New Imaginative and prescient stated, citing unnamed sources on the financial institution. New Imaginative and prescient stated the central financial institution had efficiently recovered over half of the cash from the hackers.
Frequent assaults
Uganda’s largest impartial newspaper, Every day Monitor, reported that the theft might have concerned collusion by insiders.
Cyber thefts from banks and different monetary service suppliers, together with telecommunications companies, have occurred many occasions in Uganda. Nevertheless, police officers have stated that some banks are reluctant to publicly acknowledge such incidents resulting from fears of alienating prospects. — Elias Biryabarema, (c) 2024 Reuters
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