Uganda’s financial sector has been rocked by a significant cyberattack, with hackers siphoning $17 million from the Bank of Uganda. The revelation, reported by New Vision, has raised alarms about the vulnerabilities in the nation’s cybersecurity infrastructure.
The breach, which targeted the central bank’s payment systems, reportedly involved sophisticated tactics, suggesting the involvement of a well-organized hacking group. Authorities are working with international cybersecurity experts to trace the stolen funds and identify the perpetrators.
This incident highlights the growing threat of cybercrime in Africa as digital financial systems expand. Uganda’s financial institutions have faced increasing cyberattacks in recent years, with the central bank urging stronger cybersecurity measures across the sector.
While the bank has assured citizens that their personal accounts remain unaffected, concerns are mounting over the potential impact on Uganda’s economy and trust in its financial systems. Investigations are ongoing, with the government pledging to hold the culprits accountable and strengthen digital security frameworks to prevent future breaches.
The attack serves as a stark reminder of the importance of robust cybersecurity in safeguarding national financial systems against evolving threats.
