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Statistics on cyber-crimes contained in a report by Interpol director Charlese Birungi indicates Shs14bn lost to fraudsters.
Interpol suggested that they have lost this money in more than 200 cases of hi-tech, international, and economic crimes. Of these, bank fraud, issuance of fake visas, and online business fraud topped the list.
A Police IT expert said hackers access bank systems every month. However, banks decide to stay silent so as not to cause panic among their clients.
The policeman who preferred anonymity based on the fact that in the last twelve months, banks have lost over $3 million (about Shs10.9 billion).
‘’Of the $4 million (total) you are seeing, $3 million was recorded in just 10 cases of bank fraud. These banks were bold enough to come out and seek intervention in tracing for hackers based here and outside countries. But they don’t report a majority of the cases. They know if they keep reporting, people will feel insecure when their money is kept in the bank that is often hacked,’’ he said.
Paul Senoga, an IT expert agrees with the police that banks conceal a lot of information about their illegally accessed systems.
He said the hackers keep on checking on the bank systems until eventually, they are able to access using malware.
As a solution, Senoga urges companies to always hire permanent and competent people who keep testing their own systems. He said this will purposefully help to spot loopholes early enough.
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg)