Ugandan officials confirmed on November 28, 2024 that the national central bank suffered a security breach by financially motivated threat actors. State minister for finance Henry Musasizi confirmed the hack and said the police’s Criminal Investigations Department and the Auditor General were probing the incident.
State-owned New Vision newspaper reported that hackers, identifying themselves as “Waste”, accessed the bank’s IT systems and illicitly transferred the funds into accounts in Japan and the UK. It is quite possible that the hack was a result of an insiders job. In total, the hackers stole 62 billion Ugandan shillings ($16.8 million) from the central bank. One batch of about $7 million was sent to a bank account in the UK; it was subsequently frozen and is now considered as recovered. A second batch of about $6 million was sent to a bank in Japan; it has not been recovered because the fraudsters on the Japanese side presented “solid and sufficient” paperwork to prove that their transaction was legit.
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