Billions stolen from Airtel, MTN, Stanbic and others as hackers break into Mobile Money System.

Reports reaching has it that some notorious unidentified hackers have broken into the systems of Pegasus Technologies.

Pegasus Technologies is digital company that integrates mobile money transactions between telcos, banks, and other local, regional, and international money transfer services,

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The infamous cybercriminal made off with a yet to be known sum, but said to be in billions of Shillings.

Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank that also backs up most of the mobile money transactions, happens to be the most affected firms, have they have incurred huge loses.

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In a joint statement released on October 5, 2020, Mrs Anne Juuko, Wim Vanhelleputte, and VG Somasekhar, the CEOs of Stanbic Bank Uganda, MTN Uganda, and Airtel Uganda respectively, have confessed that there was an ‘incident’, but did not give out the details to the public domain.

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“Stanbic Bank Uganda, MTN Uganda and Airtel Uganda inform the public and their customers that on Saturday, October 3, 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 trio said.

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