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Tag Archives: FIA

Financial Crime: Uganda struck off International Grey list of FATF

Kampala, Uganda | THE INDEPENDENT | Uganda has been struck off the Grey List of the Financial Action Task Force (FATF), a categorization that risked the Ugandan financial industry being blacklisted. The FATF Grey List acts as a warning to a country that other countries, authorities and the international community will …

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Kenyan president waves off WRC safari rally

Nairobi, Kenya | Xinhua | Kenyan President Uhuru Kenyatta has flagged off the second edition of the World Rally Championship (WRC) that started in the capital Nairobi on Thursday. Kenyatta flagged off the first ten rally cars which included Kenyan McRae Kimathi, Maxine Wahome, Jeremy Wahome, Hamza Anwar, and the French …

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Uganda to be blacklisted over money laundering

Kampala, Uganda | THE INDEPENDENT | The Executive Director of the Finance Intelligence Authority, Sydney Asubo revealed that Uganda risks being blacklisted by the Financial Action Taskforce (FATF) if the government does not tackle money laundering by May 2022. Asubo who was appearing before the Committee on Finance said that the FATF …

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CSOs condemn gov’t for freezing NGO accounts

Kampala, Uganda | THE INDEPENDENT | Civil society activists have condemned the decision by the Financial Intelligence Authority-FIA to freeze the accounts of Uganda Women’s Network-UWONET and Uganda National-NGO Forum for alleged terror financing. FIA froze the accounts of the two organisations in Stanbic Bank, ABSA Bank, KCB Bank and Standard …

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UWONET denies claims of terror financing

Kampala, Uganda | THE INDEPENDENT | Uganda Women’s Network-UWONET has dismissed as false claims by the Financial Intelligence Authority-FIA that it is financing terrorism. On December 11, 2020, FIA froze the accounts of UWONET and Uganda National NGO Forum in Stanbic Bank, ABSA Bank, KCB Bank and Standard Chartered Bank on …

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Banks tighten identification procedures to curb illicit money transfers

Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority-FIA has downplayed the significance of notices being sent to some customers of commercial banks informing them of the identification requirements when making transactions with their banks. Some customers of some banks have been receiving notifications such as, “Dear Customer, as a …

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Tracking masterminds of Dunamiscoins money lending scam

Kampala, Uganda | THE INDEPENDENT  | Former employees at Dunamiscoins Resource Centre Ltd, a blacklisted cryptocurrency exchange have hinted that security agencies opted for soft targets in the scam that saw thousands of Ugandans lose billions in deposits. Dunamiscoins was operating a money lending business with branches in Masaka, Ndeeba, Mbale, …

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