finance 8 September 2026 Howwe Entertainment
Bank of Uganda Enhances Security Posture Following Breaches
The Bank of Uganda has bolstered its internal security measures in response to recent security breaches, including allegations of system hacking and the loss of laptops. Governor Michael Atingi-Ego assured Parliament that identified weaknesses have been addressed. Source: https://www.howwe.ug/news/national/43644/central-bank-tightens-controls-after-security-breach
Governor Michael Atingi-Ego of the Bank of Uganda (BoU) informed Parliament’s Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that the institution has significantly tightened its internal controls.
This move comes after a series of security incidents, which included reported laptop losses and alleged system breaches. During a session chaired by Hon. Muwada Nkunyingi, Governor Atingi-Ego acknowledged that the bank had reviewed its procedures and reinforced areas identified as vulnerable.
While addressing the committee, Atingi-Ego clarified that one of the reported incidents involved fraudulent payments rather than a hacking event. He emphasized the bank’s commitment to safeguarding its operations and public trust.
However, the Governor opted not to disclose the specific details of the enhanced controls, citing potential security risks. He explained that revealing such information publicly could inadvertently expose the bank to further threats from malicious actors, suggesting that sensitive details could be shared in a closed-door session.
The discussions also touched upon audit matters for the financial year ending June 30, 2025. Atingi-Ego highlighted that the Auditor-General had issued an unmodified audit opinion on the bank’s financial statements, indicating they fairly represented the institution’s financial standing.
COSASE members also raised concerns regarding consumer protection, including issues with loan terms, excessive recovery charges, and customer account manipulation. The committee urged the BoU to establish more accessible complaint resolution mechanisms beyond traditional suggestion boxes.
Furthermore, MPs questioned the bank’s regulatory stance on commercial banks accused of mistreating customers and called for stronger oversight of money lending practices, particularly concerning mobile money transactions. The central bank acknowledged these concerns and stated that consumer protection guidelines have been issued to financial institutions, requiring clarity on loan terms and repayment schedules.