Telco MTN Uganda has confirmed that employees have stolen around US$3.5 million from an account used to store cash incorrectly sent through its mobile money transfer service.
Responding to local press reports, the company has confirmed that members of staff "took advantage of gaps" that emerged during a systems upgrade to pilfer USh9 billion.
The money was taken from a "suspense account" used to store cash from incorrect transactions - where customers have entered the wrong details.
In a statement given to local news outlet The Observer, MTN says that customer money is not affected and that following an internal investigation it has "instituted disciplinary and criminal proceedings against a number of its employees".
According to The Observer, MTN has already fired Richard Mwami, head of public access and mobile money who has protested his innocence and sued the company for wrongful dismissal.
"With further upgrades and modifications undertaken to increase its robustness, MTN is confident that it has brought the Mobile Money system to high levels of stability and security," says the statement.
Uganda: How MTN Lost Mobile Billions - The Observer