429/67 Monday, December 2, 2024
The Ugandan government confirmed on Thursday that the country’s central bank was the target of a cyberattack by a criminal group seeking financial gain, resulting in significant monetary losses. The incident is under investigation by the Criminal Investigations Directorate and the Auditor General’s office. Henry Musasizi, Uganda’s Minister of State for Finance, revealed during a parliamentary session that certain central bank accounts were hacked. However, he suggested that the actual losses might be less severe than some reports have claimed. He added that the bank is conducting thorough account audits and investigations into the breach.
The Bank of Uganda stated that the attack involved a criminal group known as “Waste,” believed to be operating out of Southeast Asia. The group reportedly transferred 62 billion Ugandan shillings (approximately $16.8 million) to overseas accounts in early November. According to local media reports, some of the funds were moved to accounts in Japan and the United Kingdom. Authorities in the UK managed to freeze over $7 million, although some funds had already been withdrawn. Meanwhile, in Japan, the attackers reportedly accessed around $6 million. The central bank has successfully recovered part of the stolen funds, while investigations continue to identify those responsible and implement measures to prevent future attacks.
