Experts gathered at the 14th Annual East Africa Information Security Conference have warned that Uganda’s growing dependence on digital systems is exposing individuals and institutions to massive losses through cybercrime and fraud.
The conference organised by the ISACA Kampala Chapter at Speke Resort Munyonyo under the theme “Thriving in the Era of Disruptive Technology” heard that cyber-related crimes in Uganda have jumped by over 60 percent in one year.
Maurice Taremwa, President of ISACA Kampala, revealed that Uganda loses billions of shillings annually to cyberattacks, data breaches, and financial fraud schemes. He recounted one case in which about Shs 65 billion was exchanged in a short time in a fraudulent transaction.
“One case alone involved about 65 billion shillings changing hands in a very short time,” he said.
Taremwa added that despite occasional recoveries by law enforcement, most stolen funds remain unrecovered, largely because many victims fail to report incidents due to fear, embarrassment, or ignorance.
He further cited a case involving USD 20 million (approx. Shs 78 billion) stolen from a single financial institution, illustrating the scale and boldness of recent fraud operations.
“Almost all our financial transactions are now digital. When we lose control of our digital systems, the impact is faster and broader because criminals operate across borders and at lightning speed,” Taremwa remarked.
Taremwa emphasised that human error remains one of the greatest security weaknesses. He urged Ugandans to improve vigilance.
“We are the strongest and weakest part of any system. Awareness is still the most powerful tool to prevent cyberattacks,” he warned.
“Losing your phone today doesn’t just mean losing contacts, it could mean losing your savings, digital wallets, and personal data.”
He praised collaboration between ISACA Kampala and the Ministry of ICT, noting it as evidence of government commitment to improving digital safety and governance.
The experts called for stronger systems of incident reporting, coordinated national response, and widespread public education on cyber hygiene. They warned that as Uganda accelerates digital transformation, failure to invest in cybersecurity risks considerable financial damage and erosion of public trust.