Hackers breached the IT system of the Bank of Uganda, stealing $17 million.
According to an international news agency, hackers accessed the bank’s IT systems to transfer the funds.
A report in Uganda’s state newspaper, citing unnamed sources, revealed that a hacking group based in Southeast Asia sent part of the stolen amount to Japan. However, the bank has managed to recover half of the stolen funds.
Banks and other financial service providers in Uganda, including telecom firms, have faced multiple cyberattacks in the past. Police officials, however, stated that some banks are reluctant to publicly acknowledge such incidents.
