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Bank of Uganda Cyberattack and Fraud
Manage episode 455310197 series 3622265
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The Bank of Uganda suffered a significant cyberattack in late 2024, resulting in fraudulent transactions totalling over $14 million diverted to accounts in Japan and London. While the Ugandan government confirmed the breach and initiated investigations, including audits and criminal probes, the exact amount lost and the extent of any internal complicity remain under investigation. Although some funds have been recovered, challenges persist in retrieving all the stolen money due to a lack of cooperation from one involved bank. These events expose vulnerabilities in Uganda's financial infrastructure and underscore the need for improved security measures.
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