The dfcu Bank has come under scrutiny after it emerged that hackers had penetrated its core banking system. It is alleged hackers last week took control of the online banking system for several hours before being countered.
This development raised concerns that dfcu customers had fallen victim to phishing, a technique used to hack password and login details of a website.
Phish pages are simply fake pages that look the original webpage where you’re taking the information from and can easily mislead one to voluntarily hand over their security information such as passwords.
Contacted, dfcu’s Head of Marketing and Communication, Jude Kansiime denied reports that the bank’s system was hacked.
“This is entirely not true at all and our customers/ the public should ignore this false news. We successfully completed our planned banking system upgrade over the past weekend and all our banking services are running smoothly and in full,” said Kansiime.
He said the “upgrade provides an improved customer experience through our different channels, and is in line with our overall promise of making more possible for our customers.”
Asked to explain more on the security of customers’ deposits, Kansiime observed: “The dfcu banking system (Finacle 10) is one of the top tier systems that is also used by other top banks in Uganda, Africa and Globally.”
According to Police records, cyber-crime cost Uganda about Shs 18.1 bn. Another figure released by the Kaspersky Labs puts the figure at Shs 25bn. Both figures are within the range that was released by the auditing firm, Deloitte.
At the 3rd East Africa Banking and ICT Summit held in Kampala, Justine Bagyenda, Director Supervision at Bank of Uganda (BOU) admitted how complex it is to put an exact figure to the cost of cybercrime as commercial banks remain tightlipped on the sheer size of the problem.