Several Twitter accounts of high-profile people and companies were hacked on Wednesday 15th July 2020, throwing Twitter in the unwanted spotlight. This was a high-level coordinated attack aimed at scheming people through cryptocurrency who have already been battered financially by the coronavirus pandemic. According to Twitter, the attack was possible though “a coordinated social engineering hack, by cybercriminals who successfully targeted Twitter staff with access to the internal systems and tools”, an official statement from Twitter read. The attack involved gaining access to the target high-profile victims, namely Barack Obama, Apple, Elon Musk and Joe Biden, Kim Kardashian West, Jeff…
Here is how to transform your internal audit department
Are you adding value as an internal auditor or you are just ticking and bashing and getting lost in the paperwork? In these pandemic times, you must claim your place at the highest table of decision making by providing consulting and advisory insights that transform your audit clients. To read the complete presentation we made to the Government of Uganda Internal auditors, under the auspices of the Internal Auditor General, Internal auditors have a place at the highest level of decision making – the audit committee of the board as they report directly to the board (functionally – internal audit…
The pain…
“I feel your pain. Now let us ease the pain.” When you are in control of things, you can say those statements. It is cross-examination time. And you are all vulnerable. Blindfolded, in a darkroom, after a cold shower with noise all over the place. Then, you feel like snakes are crawling around you. It was done intentionally, As you entered the room, you passed by a cage full of several snakes, with the words “poisonous” written all over it. You entered the room. You got blindfolded and handcuffed. But you can hear. It is intentional that you should hear.…
The cunning accountant, part 1
Beautiful, self-motivated and full of energy, Jane Kugonza was an exceptional accountant with a sense of style. She held the latest iPhone model and had a particular liking for red stylish shoes with matching lipstick and leather bags. A certified chartered accountant, Jane was an envy of those who knew her: the boys wanted some piece of her while the ladies envied the attention she commanded. However, her beauty and false innocent look led to the collapse of a business in a Ugx. 3 billion fraud scheme. Jane worked with two assistants, Julius Okiring and Maria Atukunda in her finance…
Bank fraud in East Africa, how to prevent this ever-present danger, part 1
No system is unhackable. That is the hackers’ credo. And it is accurate. There is no security system that cannot be breached. The catchphrase these days is “military-grade” encryption. The truth is, the military-grade security system is managed by human beings! It goes without saying that what one human being can do. Another can do better. The good guys, the IT professionals, and cybersecurity experts are always in the comfort of their offices. They can easily sleep off. However, the bad guys are highly motivated. So what is hacking and how do hackers do it? Hacking is a breach of…
Tackling Uganda’s health care challenges: Is health insurance the best option?
Mary Kyomuhendo, a senior consultant at one of the top Multi-National Companies having its subsidiary branches in Kampala has been battling serious illness following a deadly car she survived narrowly. At one point, she almost lost her job. She had spent about six months in the medical operational theatre due to skull injuries sustained at the time of the accident. Mary was now spending almost Ugx 2m for her monthly on medical treatment. At one time, Mary used her car as collateral security to get Ugx 10m loan from John, a local prosperous business man operating a whole sale shop…
