Hackers Steal $17 Million From Uganda Central Bank – State Paper

Offshore hackers stole 62 billion Ugandan shillings ($16.8 million) from Uganda’s central bank, the state-owned New Vision newspaper reported on Thursday.

The hackers, identifying themselves as “Waste,” reportedly accessed the Bank of Uganda’s IT systems and illicitly transferred the funds earlier this month.

The hacking group based in Southeast Asia, sent part of the stolen money to Japan, New Vision said, citing unnamed sources at the bank.

New Vision said the central bank had successfully recovered over half of the money from the hackers. In response to the cyber attack, President Yoweri Museveni has ordered an investigation, it said.

Separately Uganda’s biggest independent newspaper, Daily Monitor, reported that the theft may have involved collusion by insiders.

Cyber thefts from banks and other financial service providers, including telecom firms, have occurred many times in Uganda. However, police officials have said that some banks are hesitant to publicly acknowledge such incidents due to fears of alienating customers. ($1 = 3,685.0000 Ugandan shillings)