Uganda’s finance ministry has confirmed that hackers infiltrated the Bank of Uganda’s IT systems, stealing 62 billion Ugandan shillings ($16.8 million). While the theft was significant, officials stated that the scale was smaller than initially reported. Finance minister Henry Musasizi announced the breach in parliament and confirmed that investigations by the Criminal Investigations Department (CID) and Auditor General are ongoing.
Reports indicate the attack was carried out by a hacking group called “Waste,” allegedly from Southeast Asia, with some of the stolen funds transferred to Japan. While the Bank of Uganda has not fully confirmed the breach, they are awaiting a police report and have recovered over half of the stolen money.
There are suspicions that some central bank insiders might have been involved in facilitating the theft. President Yoweri Museveni has ordered a thorough investigation into the incident. Cybersecurity experts have warned that financial institutions in Uganda are becoming increasingly vulnerable to cyberattacks, although banks typically avoid publicizing such incidents to protect their reputation.
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