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Stanbic employee remanded over infamous UGX10bn high tech robbery


Stanbic employee remanded over infamous UGX10bn high tech robbery

Stanbic bank

Alvin Mugerwa, a 30 year old employee of Stanbic Bank Uganda was Friday Dec 11, remanded in Kitalya high security prison for his alleged role in breaking into a computer system that connects banks and telecommunications companies MTN and Airtel.

Mugerwa was arraigned before Grade One Senior Magistrate Stella Maris Amabilis who read to him two charges under the Computer Misuse Act of 2011.

Charles Twine, the Spokesperson of the Criminal Investigations Directorate said that between July and October 2020, Mugerwa and others at large manipulated the Pagasus Technologies system and illegally transferred (UGX.10,441,000,000/=) from the mobile telecommunications companies over 1600 individual sim cards.

Twiine added that CID investigators had since established the act 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,” he said.

Twiine further stated that police will continue investigating the matter especially to establish 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,” he added



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