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.

By Editor

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

UGANDA ELECTORAL COMMISSION TO ELIMINATE NATIONAL IDENTIFICATION CARDS (IDs) FOR 2021 GENERAL ELECTIONS.

By Editor
The elimination of using National IDs (Ndagamuntu) for the 2021 elections should not have come as a surprise. One would be very NAIVE to think that Bobi Wine has not prepared for this in his Business Plan under the RISK section. It is public knowledge that our EC is not independent.  It is also public knowledge that Military Dictator Yoweri Museveni will never lose an election. What stunned us this morning is when we noticed that on social media, people were mocking Bobi with his "get your Ndagamuntu".  We are on record for saying to all Our readers that the National ID is like Apartheid in South Africa. Students of History would know how those IDs were being used to arrest people, deny them jobs, deny them basic services. Consequently, Bobi was not wrong and will never be wrong on the Ndagamuntu. Except the ones attacking him and mocking him forget that in Uganda, now, no National ID (Ndagamuntu), no service.  If you have not been denied registering your child i...
Post a Comment
Read more

Here is Why Our Utterances For Praying Jesus And God To Come Liberate Ugandans, May Be Misplaced. This Phrase is like inform of a Letter To Some Categorized Section Of Ugandans.

By Editor
https://m.facebook.com/yusufosuta/photos/a.1896701010557789/2070383359856219/?type=3 OPEN LETTER TO NRM SUPPORTERS - NATIONAL ROBBERS MOVEMENT. .................................................................................. Last week of March, a friend told me to pray for Uganda.  I told him that he was an Idiot and we have prayed for too long and we are still hungry and sick and Jesus is not coming soon to liberate us. He then ignored the STUPID and sent me a picture we all now know.  It got me totally messed up.  This guy was telling me to pray then sends a picture of men bowing down in blood.  He might have meant guns but I blocked him because his utterances of praying for Uganda were misplaced. I unblocked him 3 weeks later and asked him about praying and assassinations.  His reply "eithrr prayers or guns or both". I hate violence with a passion.  So he is now blocked in like FOREVER. Do you feel safe?  Do not feel safe. Uganda regim...
Post a Comment
Read more

CAN I CHANGE MY MIND ABOUT THE INHERITANCE I RECEIVED AND ASK FOR SOMETHING ELSE ?.

By Editor
#iip_updates . #Information_is_Power . Read more here https://informationispowah.blogspot.com/2023/07/can-i-change-my-mind-about-inheritance.html in the link. #we_inform_the_uninformed . Okello lost his wife 20 years ago and decided to only focus on their Mateo, Yona and Yosefu. 20 years later, Okello had 7 acres of land, a successful poultry business, and sinotrucks for hire. Early this year, Okello got a call telling him that one of his trucks knocked a boda boda. Okello decided to rush to see if he could sort it out before police became involved. Unfortunately, he never made it, as he was entering the main road, another trailer rammed into him and killed him instantly.   After Okello had been laid to rest, his sons sat down and divided the property amongst themselves. However, of late, Yosefu the last born has started complaining that he was cheated, and he wants to be given something else because most of the chicken in the chicken business died of a fever.   Can ...
Post a Comment
Read more