This is how shockingly Bank and Uganda’s biggest telecom companies were hacked: This is how shockingly Bank and Uganda’s biggest telecom companies were hacked:
The Uganda biggest telecom companies are in total scare after being hacked. Following the incident Airtel and MTN Uganda have announced a temporary suspension of mobile money services. Sources say that the interruption in their system was over the weekend.
Our reporter learnt that unknown hackers broke into the Pegasus technologies system to access the three companies; Stanbic bank, Airtel and MTN Uganda. And unspecified amount of money belonging to bank and telecoms went missing.
Pegasus technologies is the company that translates money from banks into mobile money transfers. But this mutual understanding is between the bank and telecom companies.
However, other banks, telecoms and utility companies such as retailers, pay-Tv and others; Are all under the companies flagship product, Pegpay payments platform.
Surprisingly, Pegasus also offers e-commerce! organizations with websites or mobile applications vend their services online. And all money transactions, payments are all done online.
However, on Monday Stanbic bank, MTN and Airtel Uganda released a joint statement! We have got issues with our systems, the statement says in parts.
“Stanbic Bank Uganda, MTN Uganda and Airtel Uganda inform the public and their customers! On Saturday 3 October 2020, a third-party service provider experienced a system incident which impacted bank to mobile money transactions. All bank to mobile money/wallet services are temporarily on suspension,” the joint statement says.
This is how shockingly Bank and Uganda’s biggest telecom companies were hacked
But with assurance from the three companies; There is no any impact on customers’ monies.
“On addition our technical teams are analyzing the incident and will restore services as soon as possible. We apologize to all customers for any inconvenience that this has caused and reiterate our commitment to delivering seamless banking and mobile money services.”
However, in the other joint statement by Airtel and MTN Uganda! announce the suspension of Mobile money services.
“MTN Uganda and Airtel Uganda wish to inform the public and their customers! Due to unprecedented technical challenges, mobile money services between the two networks are temporarily on suspension. Our technical teams are working together to resolve the challenges and restore the services as soon as possible.”
Whereas the three companies say everything is safe. But it is suspected that huge sums of money were taken by hackers. These took advantage of the weekend to sneak into the company’s systems.
But the annual Police crime report for the year 2019 released in May; It indicate that criminals stole Shs438m from dfcu Bank and Shs800m from Centenary Bank. Surprisingly, in both incidents, the money transactions were on mobile money accounts.