Ugandan Central Bank Hit by $17 Million Cyber Heist

Hackers have stolen an estimated $17 million (62 billion Ugandan shillings) from the Bank of Uganda’s accounts in a sophisticated cyberattack, Bloomberg reports, citing other media.

While differing figures are emerging from various sources, the incident has sparked investigations by Ugandan authorities.

The Kampala-based New Vision newspaper reported Thursday that a Southeast Asian hacking group known as “Waste” was responsible for the breach. The bank reportedly recovered some 37 billion shillings ($10 million). The police and the auditor general’s office are now investigating the matter.

A separate report in the Daily Monitor newspaper claims a lower figure of 47.8 billion shillings ($13 million) was stolen. This report further alleges the theft occurred in September, with the funds transferred to accounts in Japan and the United Kingdom. The Daily Monitor suggests the fraud involved inside collusion, stating that several employees at both the central bank and the finance ministry are being questioned.

The Bank of Uganda has not yet publicly commented on the incident. Bloomberg’s attempts to reach the bank for confirmation have been unsuccessful. The discrepancy in reported stolen amounts highlights the ongoing uncertainty surrounding the full extent of the cyberattack and its ramifications. The investigation is expected to shed light on the methods employed by the hackers and the level of internal involvement.