Uganda confirms cyberattack on Central Bank, downplays severity of breach

Ugandan authorities confirmed that the country’s central bank, the Bank of Uganda (BoU), was targeted by a cyberattack orchestrated by financially motivated hackers. While officials acknowledged the breach, they disputed media reports claiming the theft of $17 million, asserting the situation was less severe than initially portrayed.

Henry Musasizi, Uganda’s Minister of State for Finance, addressed the parliament, affirming the incident while cautioning against premature conclusions. “Our account was indeed hacked, but not to the extent of what is being reported,” Musasizi stated. He urged patience as the government conducts a comprehensive audit and investigation into the breach. According to Musasizi, a detailed report is expected within a month.

The attack, believed to have occurred two weeks ago, has drawn widespread concern. Uganda’s Daily Monitor newspaper reported that hackers funneled stolen funds into accounts in Japan and the United Kingdom. British authorities have reportedly frozen approximately $7 million linked to the breach, though some funds had already been withdrawn. Ugandan officials did not confirm the accuracy of these claims.

Parliamentary opposition leader Joel Ssenyonyi expressed alarm over the attack, emphasizing its broader implications. “We must know what is happening at the Central Bank. If money is being siphoned, whether by hackers or the Bank of Uganda staff, it should worry all of us,” Ssenyonyi said, highlighting a troubling pattern of financial irregularities in the banking sector.

The breach has amplified calls for more extraordinary cybersecurity measures in Uganda’s financial institutions. Critics have pointed out that reports of heists at commercial banks have become frequent, making this latest incident at the central bank particularly unsettling.