Skip to main content

Millions of Money Lost as Telecom Giants Airtel and MTN Suspend Mobile Money Services After System Was Hacked on Saturday 3-Oct-2020.


Telecom giants Airtel and MTN Uganda have announced a temporary suspension of mobile money services after interruptions in their systems.

Uganda Losing Billions Due to Inability to Stem illicit Money
Telecom giants Airtel and MTN Uganda have announced a temporary suspension of mobile money services after interruptions in their systems.

It is learnt that over the weekend, unknown hackers broke into the system of Pegasus Technologies before taking off with an unspecified amount of money belonging to several companies including banks and telecoms.

Pegasus Technologies is the company that translates money from banks into mobile money transfers between banks and telecom companies.

The company’s flagship product, PegPay payments platform which is used by several institutions including banks, telecoms and utility companies such, retailers, Pay-Tv providers’ and schools helps aggregate and manage financial transactions for both internal and external purposes.

Pegasus also offers e-commerce services where organisations with websites or mobile applications are allowed to vend their services online and receive payments online.

However, according to a joint statement released on Monday by Stanbic Bank Uganda, MTN and Airtel, they got issues with their systems.

“Stanbic Bank Uganda, MTN Uganda and Airtel Uganda inform the public and their customers that 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 have since been temporarily suspended,” the joint statement read in part.

The three companies however assured their customers that there was no impact on their monies.

“Our technical teams are analysing the incident and will restore services as soon as possible. We apologise to all customers for any inconvenience that this has caused and reiterate our commitment to delivering seamless banking and mobile money services.”

In another joint statement by Airtel and MTN Uganda, the telecom companies announced a temporary suspension of mobile money services over the weekend incident.

“MTN Uganda and Airtel Uganda wish to inform the public and their customers that due to unprecedented technical challenges, mobile money services between the two networks are temporarily suspended. Our technical teams are working together to resolve the challenges and restore the services as soon as possible,” a joint statement by the companies said.

Whereas the three companies say nothing was lost, it is suspected that huge sums of money were taken by the unidentified hackers who took advantage of the weekend to force themselves into the company’s systems.

The Annual Police crime report for the year 2019 released in May indicated that criminals stole Shs438m from dfcu Bank and Shs800m from Centenary Bank and that in both incidents, the money was transferred to mobile money accounts.


Nilepost


#osutayusuf

Comments

Post a Comment

Popular posts from this blog

Vurra Constituency MP Adriko Yovan gets six months imprisonment for failing to repay loan.

📸: Hon Adriko Yovan. Story By Andrew Cohen Amvesi. ARUA . Yovan Adriko, the Vurra County Member of Parliament (MP) in Arua district has been committed to six months civil prison for failing to clear debts amounting to shs55,677,400. Adriko was on Thursday evening sent to Arua government prison to serve six months shortly after his arrest at Slumberland hotel in Arua City. MP Adriko warrant of committal judgement debtor to jail. Paul Mawa of T/A Vitality Associates, the court bailiff assigned to arrest the MP, duped him to come and pick some money for a land transaction at Slumberland hotel where he picked him like a baby after a long hunt. Adriko was immediately arraigned before Her Worship Karungi Leo, the Deputy Registrar of Arua High Court who later committed him to imprisonment not exceeding six months. Part of Adriko’s warrant of arrest issued b court Adriko was sent to the coolers for failing to clear shs48m which is the princip
1 comment
Read more

Arrested Arua City Officials Taken to Kampala this Night.

Wednesday 8-November-2023. 📸: The arrest of Arua City Physical Planner Mr Findru Moses on 6-Nov-2023 at around 2pm. 📸: Mr Jobile Cornelius the City Deputy town clerk who was arrested on 7-Nov-2023 at around 4pm. 📸: Mrs Lillian Aleni (in red cloth) and Mr Edoni Benard being handcuffed by police officer on 6-Nov-2023 at around 6pm. The bail that was to be issued last night 8pm 7-Nov-2023 to release the arrested City Deputy town clerk Mr Jobile Cornelius and CFO Mr Sam Adriko over mismanagement of government properties and monies was canceled, and by this time of the night 11pm, highly placed sources leaked that, all the arrested suspects (Mr Findru Moses the Arua City Physical Planner, Mr Jobile Cornelius the Deputy City clerk, Mr Adriko Sam the CFO, Mr Edoni Benard the PDM BOG Chairperson for Pangisa ward and Mrs Lillian Aleni the parish chief for Pangisa ward) are being transported by State House Anti-corruption Unit officers who will soon be reac
Post a Comment
Read more

Wedded Ayivu West MP Lematia John Fights Over Another Woman.

  📸: Hon Lematia John. By URN. Police in Arua district are investigating a case of assault and threatening violence involving the Member of Parliament for Ayivu West Constituency John Lematia and James Ariko, a DSTV technician in Arua city. Drama ensued on Easter Sunday 31-3-2024 at Dream Land Hotel located at Kuluva trading center along Arua-Nebbi highway in Arua district when the legislator and the technician engaged in a fight reportedly over a woman identified as Faith Eyotaru 25, a relationship officer at Victoria University Kampala. The scuffle started after Ayivu West Mp John Lematia went to swim at Dreamland Hotel with Faith Eyotaru only to find Ariko, who had gone to the same hotel earlier. However, upon seeing the duo coming out of the vehicle, Ariko confronted Lematia with both men claiming to be having a relationship with the lady. It took the intervention of the staff at the hotel who intervened and separated the fight between the men. Josephine Angucia, the West Nile re
Post a Comment
Read more