Association of Certified Fraud Examiners Uganda Chapter

On 11/03/2016, it was reported that Bank of Uganda (BOU) is under investigation to determine circumstances under which Ugx27billion was transferred to offshore accounts in Hong Kong and United Arab Emirates (UAE). This comes as the forth of four failed attempts by cyber criminals to retrieve a total of Ugx81billion from Bank of Uganda over the past 10 months since July 2015. In the report released by the Daily Monitor, hackers, middlemen and Ugandan bureaucrats are conniving to implement the thefts with major focus being placed on accounts with high budgets for instance The Defence, Energy and Agriculture ministries and Uganda National Revenue Authority.The first of these attempts is said to have occurred in July 2015 targeting Ugx40billion and the culprits re-emerged in December 2015 to steal Ugx6.7billion and then a month later to steal Ugx8billion and more recently on February 26, 2016 where Ugx27billion was targeted.

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