Hackers have successfully breached the Bank of Uganda’s IT systems, transferring 62 billion Ugandan shillings (approximately $16.8 million) from central bank accounts. The country’s finance ministry confirmed the cyber attack, though officials downplayed its severity, stating that the scale of the theft was smaller than initially reported.
State Minister for Finance, Henry Musasizi, informed Parliament that investigations led by the Criminal Investigations Department (CID) and the Auditor General were nearing completion. While the Bank of Uganda has not yet issued an official statement on the breach, reports suggest that a Southeast Asian hacking group, “Waste,” was behind the attack, with part of the stolen funds reportedly transferred to Japan.
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Local media reports also raised concerns about potential insider involvement, with sources indicating that individuals within the central bank might have assisted the hackers. Despite the gravity of the situation, the bank has recovered over half of the stolen funds.
This breach adds to growing concerns over the vulnerability of financial institutions in Uganda, which have faced several cyber attacks in recent years. President Yoweri Museveni has ordered a comprehensive investigation to address the issue and strengthen security measures.
