Bank Fraud Archives

The Rise of the Internal Thief: Insider Fraud is one of the Most Prevalent Financial Crimes in Uganda, and moreover at senior management levels.

THE THIEF WITHIN: Who is Stealing from Ugandan Companies?

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 a sharp

February 25, 2025

Business & Markets·The Big Story

Uganda faces a financial crime crisis as cyber fraud, bank scams, and corporate fraud escalate, costing the economy over USD 272 million in 2024 and exposing vulnerabilities in digital security and financial systems.

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

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 in these

February 25, 2025

News & Analysis·The Big Story

A Stanbic Bank office building in Kampala

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

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 the incident,

February 13, 2023

Business & Markets·The Big Story