MTN CEO Reveals Third Party That Led to Recent Mobile Money System Breach

MTN-Uganda-CEO Wim
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By Wim Vanhelleputte

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 Bank 2 Wallet transfers.

Although the incident did not affect any customer money mobile balances, a limited number of other services aggregated through the third-party provider were suspended as a precautionary safety measure.

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The core MTN Mobile Money services namely cash deposits, withdrawals, Person to Person (P2P) transactions and MoMo payments were never affected nor compromised at any stage.

Investigations led by the Uganda Police Force are ongoing to identify the root cause of the incident. We are confident the Uganda Police Force will conclude their investigations timeously and take appropriate action against the culprits.

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The MTN mobile money platform complies with the highest international ICT security standards and is subjected to regular assessments and reviews by internal and external assurance providers.

We apologize to all our customers for any inconveniences and reassure the public that MTN Mobile money services are safe, convenient, and transparent.

The author is the chief executive officer, MTN Uganda

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