Bank Fraud Archives – CEO East Africa

THE THIEF WITHIN: Who is Stealing from Ugandan Companies?

CEO East Africa MagazineBusiness & Markets The Big StoryFebruary 25, 2025February 25, 2025

Uganda is experiencing an economic crime crisis, with businesses and individuals losing over USD 272 million (UGX 1.02 trillion) in 2024 due to fraud, cybercrime, and financial misconduct. This represents…

Ugandans and businesses in 2024 lost USD272 mn in economic crimes; cybercrime, bank, and fraud double

CEO East Africa MagazineNews & Analysis The Big StoryFebruary 25, 2025February 25, 2025

Even though the number of financial and economic crimes rose mildly, by 1.6%, from 12,924 cases in 2023 to 13,132 cases in 2024, the severity and amount of money lost…

STANBIC USD1.8 MILLION THEFT: Bank speaks out; confirms theft but denies there was an intrusion of its IT systems

The CEO Magazine TeamBusiness & Markets The Big StoryFebruary 13, 2023February 13, 2023

Stanbic Bank Uganda, has spoken out about the brazen theft of USD1.8 million from one of its customers, Nile Energy Limited. In a brief statement released today, the bank acknowledged…