The Vice Chairperson of the Parliament’s Finance Committee Moses Aleper has revealed plans by the Committee to summon the Ministry of Finance and Financial Intelligence Authority (FIA) to explain circumstances under which, accounts of Bank of Uganda were hacked, leading to the siphoning of an estimated UGX 62 Billion.
Thank you for reading this post, don't forget to subscribe!Mr. Alepa who is also the Chekwii County MP made the revelation during the training of MPs of Uganda Parliamentary Network on Illicit Financial Flow, organized by Southern and Eastern Africa Trade Information and Negotiations Institute (SEATINI) Uganda, Tax Justice Network Africa; at Onomo Hotel in Kampala.
He said that the incident, at the top chain of the financial sector threw the citizens into panic and also undermined the credibility of the B.O.U indicating that there could be a problem in the architecture and it’s management.
“As we advance in technology, we are living with people who are also thinking quite fast. As long as there is collusion in anything, there are no internal controls and this is what must have happened,” said Moses Aleper.
It should be remembered that the government through State Minister of Finance Henry Musasizi, acknowledged that the Bank of Uganda (BoU) experienced a cyber-attack, with funds siphoned from its accounts but refuted media reports claiming the heist amounted to UGX 62 billion.
BANK OF UGANDA SPEAKS UP.
Meanwhile, the Bank of Uganda has said it is banking on a joint multi-agency investigation to “comprehensively clarify’’ what exactly happened before providing the public with a detailed update.
“The Bank of Uganda (BoU) is aware of recent media reports regarding two incidents involving fraudulent activity that resulted in international payments being diverted from their intended beneficiaries. The BoU takes these matters with the utmost seriousness. We immediately launched a comprehensive internal investigation to: Fully understand the complete extent of these incidents; Conduct a thorough process review; Identify and implement steps to prevent similar occurrences in the future,” the bank says in the statement signed by Mr Kenneth Egesa, the director, Communications and Public Relations.
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