The United Bank for Africa Uganda Ltd. (UBA) has vehemently refuted allegations of fraudulent activity involving the loss of $250,000 (Shs965 million) from a customer’s account.
Despite widespread reports circulating online, the bank management issued a statement on April 8, 2024, denouncing the claims as baseless attempts to tarnish its reputation.
In the statement, UBA Uganda emphasized its unwavering commitment to maintaining the highest standards of security and transparency, assuring its customers and the public of the integrity of its operations.
The bank underscored its dedication to safeguarding customer accounts against unauthorized access and fraudulent activities, operating under stringent security protocols.
The allegations stemmed from an undisclosed customer who reported missing funds from their account, allegedly amounting to Shs965 million.
The customer, who claimed to have opened the account in 2013, issued a seven-day ultimatum for the bank to refund the missing funds or face legal action.
However, UBA Uganda refuted the allegations, asserting that no such incident had occurred.
Efforts to obtain a response from the Bank of Uganda (BoU) regarding the allegations and any ongoing investigations yielded no results, as Mr. Kenneth Egesa, the Director of Communications at the central bank, could not be reached for comment.
Despite inquiries, the BoU had not officially received any complaint regarding the alleged theft, according to a source at the bank who spoke on condition of anonymity.