Uganda’s Financial Intelligence Authority-FIA has said that cybercrimes remain a critical concern to the country. The agency says for example during the FY2023/2024, 245 cases of cybercrimes were reported to the police.
In the previous FY2022/23 however, the cases totalled to 286 representing a 14.3% decrease.
The financial impact of these crimes according to FIA remains significant, with losses amounting to Shs1,543,292,161 in 2023. Of this money, only Shs377,441,465 was recovered, leaving a balance of close to Shs1.2bn.
“In an era where cyber threats are growing in sophistication and scale, the importance of robust cyber security measures cannot be overstated” said Cyrus Barigye, the ICT Systems and Security director at FIA during a recent three-day workshop on cyber safety and ransomware attack response, held at the Imperial Royale Hotel.
The workshop, funded and facilitated by the United Nations Office on Drugs and Crime (UNODC) with support from the Netherlands Embassy, according to him is a testament to Uganda’s commitment to enhancing cyber security and mitigating the risks associated with ransomware.
Barigye said the FIA workshop aimed to equip participants with the necessary skills and knowledge to effectively respond to ransomware incidents.
He said the workshop brought together cyber security experts, law enforcement officials, and IT professionals for an intensive learning experience covering incident response, analysis, containment, prevention, and recovery from ransomware attacks.
“Participants learned the immediate steps to take when a ransomware incident occurs, including identifying the scope of the attack, isolating affected systems, and initiating communication protocols to minimize damage” he said.
Barigye said experts from the United Nations provided in-depth sessions on analyzing ransomware attacks to understand their origin, methods, and potential impacts. He added that the participants practiced techniques to contain the attack and prevent it from spreading within the network.
He said this workshop emphasized proactive measures to prevent ransomware attacks, such as regular system updates, robust backup practices, and employee awareness training. “Strategies for recovering from ransomware incidents were also discussed, ensuring that organizations can restore their systems and data efficiently. By providing hands-on training and expert insights, the workshop significantly enhanced the capabilities of participants in safeguarding their organizations against cyber threats” Barigye said adding that this initiative is part of a broader effort to strengthen cyber security resilience within the region.
He said the successful completion of this workshop underscores FIA’s dedication to combating cyber threats and enhancing national security.
He commended the UNODC and the Netherlands Embassy for their unwavering support in organizing this event noting that their contributions were instrumental in facilitating this crucial training.
“As we continue to face the growing challenges of cyber threats, it is imperative that we remain vigilant and proactive in our efforts to protect our financial and digital assets. The insights and skills gained from this workshop will empower our Authority to better detect, respond to, and prevent ransomware attacks” he said.
Barigye said that FIA remains committed to fostering a secure and resilient cyber environment through continuous learning, collaboration, and the implementation of best practices.
“Together, we can build a stronger defense against cybercrime and ensure a safer future for all” he said.
BACKGROUND
In February 2023, during the Financial Action Task Force (FATF) plenary, two new reports were issued focusing on countering ransomware financing.
These reports analyse the methods used by cyber criminals to execute attacks and launder ransom payments, as well as identifying potential risk indicators. The guidance provided aims to improve the detection and prevention of suspicious transactions linked to ransomware.
One of the core focuses of the FATF plenary was the alarming increase in ransomware attacks, particularly the misuse of virtual assets (VAs), which enable criminals to escape undetected with significant sums of money. These cybercrimes are said to be flourishing mostly in Asia-Pacific region as per the The IBM X-Force Threat Intelligence Index 2022. Practically, Cyber Criminals hack into people’s/organization’s accounts, get all their details and threaten to expose them if they don’t pay ransoms. Usually, owners of such accounts cannot access their data anymore as the hackers takeover their sites until they pay. In Uganda, one can equate their mode of operation to those who steal motor vehicle number plates or kidnappers who threaten to kill their victims unless ransoms are paid on their given numbers.
