Offshore hackers have stolen USh62 billion (US$16.8 million) from the Bank of Uganda, according to reports from the state-owned New Vision newspaper.
The hackers, who identified themselves as “Waste,” reportedly infiltrated the central bank’s IT systems and illicitly transferred the funds earlier this month.
The cybercriminal group, believed to be based in Southeast Asia, allegedly routed part of the stolen funds to Japan, as reported by New Vision, citing anonymous sources within the bank.
The Bank of Uganda has yet to respond publicly to requests for comment on the theft, and Ugandan police have also remained silent on the matter. However, New Vision reported that over half of the stolen money has been successfully recovered by the central bank.
In response to the cyberattack, Ugandan President Yoweri Museveni has ordered a full investigation into the incident. Meanwhile, Daily Monitor, Uganda’s largest independent newspaper, has suggested that the theft may have involved collusion from within the bank, pointing to the possibility of insider involvement.
Cyberattacks on financial institutions have become a recurring issue in Uganda, with banks and telecommunications companies increasingly targeted by cybercriminals. However, many financial institutions have been reluctant to publicly disclose such incidents, fearing damage to customer trust.
