The Stanbic Bank employee who is averred to have masterminded the recent telecom electronic fraud which led to loss of over Shs10 billion has been arrested.
His arrest has been confirmed by the spokesperson of Directorate of Criminal Investigation and Crime Intelligence (CID) Charles Twiine.
In October, unidentified thugs hacked Pegasus Technologies, information and technology service provider of Stanbic Bank and the leading telecom service providers, Airtel Uganda and MTN Uganda. The thugs are averred to have robbed over Shs10 Billion.
“Mugerwa Alvin an employee of Stanbic Bank has been arrested for allegedly masterminding the recent Telecom Electronic fraud Police will not leave any stone unturned and will have him charged to Court today,” Mr Twiine said on twitter.
Upon hacking into Pegasus Technologies, the Chief Executive officers of the companies; Anne Anne Juuko Stanbic Bank Uganda, Wim Vanhelleputte MTN Uganda and VG Somasekhar Managing Director Airtel Uganda, dismissed that the system incident did not 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,” they said.
Below is the full Police Statement from ASP Twiine Charles;
Police has today charged Mugerwa Alvin a 30 year, to Court on allegations of Unauthorized AccessC/S 12(11), &11(7) and Access with intent to commit or facilitate the commission of a further offence C/S 13 of the Computer Misuse Act 2011.
It is alleged that Mugerwa Alvin who is an employee of Stanbic Bank Uganda as well as an External Consultant/System’s Administrator with Pegasus Technologies between July 2020 and October 2020 having an access to Pegasus fraudulently manipulated its system there by causing loss of substantial amount of money through Mobile money transactions. (UGX 10,441,000,000)
Our investigators have since established this was an organised crime that involved about 1630 Telecom simcards from both MTN and Airtel that were fraudulently registered and later used to withdraw cash from various Mobile money Agents across the country especially in Greater Kampala and major towns.
Earlier, Police had arrested and charged two people with Electronic Fraud and Theft to Buganda Road Court having been caught with the telephone lines that were used to transact mobile money withdraws,and were remanded to Kitalya government prisons.
Police will continue investigating this matter especially to establish the the involvement of employees of the Telecom companies that fraudulently registered the simcards well knowing that their act was to enable fraud.
Police greatly appreciates the cooperation that was from MTN Uganda, Airtel, Bank of Africa and more importantly Stanbic Bank Uganda, during the process of investigations.
I used to be recommended this blog via my cousin. I am now not positive whether this post is written by means of him as no one else recognize such certain approximately my difficulty. You are amazing! Thank you!
Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your site? My blog site is in the very same area of interest as yours and my visitors would certainly benefit from a lot of the information you present here. Please let me know if this alright with you. Many thanks!
Im not that much of a online reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back down the road. Cheers
At this time I am going to do my breakfast, after having my breakfast coming yet again to read more news.
I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get bought an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this increase.
What’s up to every one, it’s actually a good for me to go to see this site, it consists of precious Information.
Pretty section of content. I just stumbled upon your blog and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I’ll be subscribing to your augment and even I achievement you access consistently rapidly.
I love what you guys are usually up too. Such clever work and coverage! Keep up the amazing works guys I’ve incorporated you guys to blogroll.
This post is priceless. How can I find out more?
If some one desires to be updated with most recent technologies after that he must be visit this web site and be up to date every day.
There is definately a lot to know about this subject. I like all the points you’ve made.
Hey! I just wanted to ask if you ever have any problems with hackers? My last blog (wordpress) was hacked and I ended up losing months of hard work due to no backup. Do you have any solutions to protect against hackers?
Hi there to every one, because I am actually keen of reading this webpage’s post to be updated daily. It consists of good stuff.
I all the time used to read article in news papers but now as I am a user of internet thus from now I am using net for articles, thanks to web.
Useful info. Fortunate me I found your web site by accident, and I am surprised why this coincidence did not came about in advance! I bookmarked it.
Awesome! Its really remarkable post, I have got much clear idea concerning from this piece of writing.
Appreciating the hard work you put into your site and in depth information you provide. It’s awesome to come across a blog every once in a while that isn’t the same outdated rehashed material. Fantastic read! I’ve saved your site and I’m including your RSS feeds to my Google account.
Greate article. Keep writing such kind of information on your page. Im really impressed by your site.
Hello there, You have performed a fantastic job. I will definitely digg it and personally recommend to my friends. I am sure they will be benefited from this web site.
I all the time used to read post in news papers but now as I am a user of internet so from now I am using net for posts, thanks to web.
This text is priceless. How can I find out more?
For latest news you have to visit world wide web and on internet I found this website as a best website for most up-to-date updates.
What’s up to every one, it’s really a good for me to visit this website, it contains helpful Information.