Uganda is recording a worrying rise in cybercrime, with reported cases increasing by more than 93 percent from 245 in 2023 to 474 in 2024, before slightly dropping to 412 in 2025.
Bank of Uganda Governor Michael Atingi-Ego says the growing threat could undermine trust and financial stability, particularly as banks, telecom companies, and payment platforms become increasingly interconnected.
He is calling on financial institutions, regulators, telecommunications companies, and government agencies to work together and abandon siloed approaches in the fight against cyber fraud, warning that the security of one institution depends on the strength of the entire digital ecosystem.
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