Uganda downplays hacking of its central bank

Ugandan officials confirmed Thursday that the country’s central bank had been infiltrated by hackers who stole money earlier this month. Local media reported the stolen amount to be $16.8 million, but the government refuted the claims.

The incident is being investigated, with a Southeast Asia-based hacking group called “Waste” identified as responsible, Reuters reported. The group hacked the Bank of Uganda’s IT systems and illicitly transferred funds to Japan and the UK, according to Bloomberg.

More than half of the funds have already been recovered. The theft may have involved some bank insiders, Uganda’s Daily Monitor reported.

“It is true that our account was hacked, but not to the extent of what is being reported,” Uganda’s finance minister said, adding that an incident report would be ready in a month.

Both the central bank and the police declined to comment.