UBA speaks out on fraud allegation
United Bank for Africa Uganda Ltd head offices. Photo | Courtesy
What you need to know:
- An undisclosed customer who purported to have opened an account with the bank in 2013, had claimed that he found Shs965 missing from his account and reportedly gave the bank seven days to refund his money or prepare for legal action
The United Bank for Africa Uganda Ltd has denied claims of fraudulent loss of money belonging to one of their customers. For days now, the internet has been awash with the claims of theft of money up to $250,000 (Shs965 million) from the said unidentified client’s account at the bank.
However, in a statement dated April 8, 2024, the bank management denied the fraud allegations saying this must have been cooked up to dent the image of the bank.
“UBA Uganda categorically refutes these allegations which are false and unfounded. No such incident has occurred and we reassure our valued customers and the general public of our unwavering commitment to the highest standards of security and transparency,” the statement read in part.
“As a financial institution that prides itself on putting its customers first with utmost importance on customer satisfaction and trust, UBA Uganda emphasizes its dedication to safeguarding all customer accounts against unauthorized access and fraudulent activities. The Bank operates under stringent security protocols and remains vigilant in protecting its customers' financial assets,” it further reads.
The allegations
An undisclosed customer who purported to have opened an account with the bank in 2013, had claimed that he found Shs965 missing from his account and reportedly gave the bank seven days to refund his money or prepare for legal action. By press time, we were unable to get any response from the Bank of Uganda on the allegations and whether the bank was investigating the matter or not.
Mr Kenneth Egesa, the Director of Communications at the central bank could not be reached because his known mobile number was off at the time.
However, a source at the bank who spoke on condition of anonymity told this publication that the BoU had not officially received any complaint regarding the alleged theft.
“To the best of my knowledge, no such a complaint has been registered, because if it had happened, I would have known. However, I will crosscheck again and let you know,” the source said.
However, by press time, the source had not gotten back to us.
