An offshore hacking group has stolen approximately $16.8 million from the Bank of Uganda. The state-owned New Vision newspaper reported on Thursday that the Southeast Asia-based group, identifying themselves as "Waste," executed the breach earlier this month.

Using sophisticated methods, the hackers accessed the bank's IT systems, transferring 62 billion Ugandan shillings to accounts overseas, including some in Japan, according to unnamed bank sources cited by New Vision. However, the central bank has reportedly managed to recover over half of the stolen funds. Neither the Bank of Uganda nor Ugandan police provided immediate comments on the incident.

President Yoweri Museveni has responded by ordering an investigation into the breach. Meanwhile, independent media outlet Daily Monitor suggested potential insider collusion could have facilitated the attack, citing sources familiar with the situation.

Uganda has faced recurring cyber theft incidents, particularly targeting financial and telecom sectors. Analysts note that many banks often avoid publicising such breaches to prevent damaging customer trust.