MTN Mobile MOney Archives – Page 2 of 2

Customer mobile money balances not affected, MTN CEO clarifies on security breach in which billions of money was feared stolen

CEO ReporterCompany NewsOctober 8, 2020October 8, 2020

MTN Uganda has come out to clarify on a security breach by Pegasus Technologies Ltd, an aggregator, in which it is feared billions of customers’ money was stolen. The telecom’s Chief Executive Officer Wim Vanhelleputte in a statement further states that the breach impacted Bank2 Wallet transfers but did not affect any customer mobile money balances. He adds that the company moved to suspend some services as a precautionary safety measure. “MTN Uganda provides select mobile money services aggregated or integrated through third parties. On 3 October 2020, an aggregator, Pegasus Technologies Ltd experienced a security breach that impacted Bank2…

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Hackers break into mobile money system, make off with unspecified billions belonging to Airtel, MTN, Stanbic, and other financial institutions

Muhereza KyamuteteraBanking & Financial Services The Big StoryOctober 5, 2020October 5, 2020

Unidentified hackers broke into the systems of Pegasus Technologies, a company that integrates mobile money transactions between telcos, banks, and other local, regional, and international money transfer services, making off with a yet to be known sum, but said to be in billions of Shillings. The most affected firms are the leading telcos, Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank that also backs up most of the mobile money transactions. In a joint statement released today, 5th October 2020, Anne Juuko, Wim Vanhelleputte, and VG Somasekhar, the CEOs of Stanbic Bank Uganda, MTN Uganda, and…

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