Uganda’s finance ministry confirmed a cyberattack on the central bank’s systems resulting in a theft of funds, but strongly refuted reports claiming losses of $17 million, Bloomberg reports.
While acknowledging the breach, Minister of State for Finance Henry Musasizi downplayed the scale of the theft during a parliamentary address Thursday.
The incident, which occurred a fortnight ago, is currently under investigation by the auditor general and the criminal investigations department, according to a parliamentary report. Musasizi pledged a full report within a month, urging lawmakers to await the findings before drawing conclusions. “It is true that our account was hacked, but not to the extent of what is being reported,” he stated. “To avoid misrepresentation of facts, when the audit and CID investigations are finalized, I will report back to this house.”
Conflicting reports emerged earlier this week. The New Vision newspaper initially reported that a Southeast Asian hacking group known as “Waste” stole 62 billion shillings ($17 million). The Daily Monitor subsequently placed the figure at 47.8 billion shillings, alleging that the funds were deposited into accounts in Japan and the United Kingdom.
According to the Daily Monitor, UK authorities have frozen approximately $7 million, though a portion of the stolen funds had already been withdrawn. The newspaper further reported that the syndicate received $6 million in Japan.
The incident sparked concern among lawmakers. Opposition MP Joel Ssenyonyi expressed alarm.
