an mtn mobile money outlet


Stanbic Bank and the leading telecom service providers, Airtel Uganda and MTN Uganda have suspended mobile money services between the three companies following technical glitches experienced over the weekend.

Eagle Online can reveal that over Shs10 billion is the amount of money that the telecoms and the bank could have lost in the scam. According to one of top executive in one of the telecom companies that was hit, the scam was an internal collusion inside Pegasus Technologies, a company hired to offer services in the mobily money transaction.

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“We will not reveal much but let police do its work of investigations but what is at stake is that how can company hired to do such work keep on even hiring its workforces from clients? that means that people hired with reveal most of their former employers who are clients to this company and that means that internal collusion is very easily carried out” said a top executive.

He also revealed that most of the money stolen in the process was from up-country centres.

Reports indicated that unidentified thugs hacked Pegasus Technologies, information and technology (IT) service provider of the three companies and took unknown amount of Money.

According to a statement signed by the Chief Executive officers of the companies; Anne Anne Juuko Stanbic Bank Uganda, Wim Vanhelleputte MTN Uganda and VG Somasekhar Managing Director Airtel Uganda, the system incident has had no impact on any balances on both Bank and Mobile Money accounts.

“Our technical teams are analyzing 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,” the statement reads.

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