Tag Archives: fraud

Kampala, Uganda | THE INDEPENDENT REPORTER | In a ruling that has sent shockwaves through Uganda’s corporate and legal circles, the High Court’s Anti-Corruption Division on April.30, 2025, acquitted two directors of ThreeWays Shipping Company who were accused of masterminding a $3.8 million fraud against MTN Uganda. The directors,  Geoffrey …

The public has been warned against interfering with financed digital assets since such acts constitute criminal offenses   Kampala, Uganda | THE INDEPENDENT | The Makindye Chief Magistrate’s Court has sentenced a man to six months in prison after he pleaded guilty in a phone fraud case involving a pay go/credit …

Looking to tough, new compliance, enforcement COVER STORY | RONALD MUSOKE | Value Added Tax (VAT) fraud is the most prevalent tax crime in Uganda. This was one of the revelations at the launch of the “Tax Crimes and Proceeds Risk Assessment Report, 2024” in Kampala on Oct.24 by the Financial …

There’s a dramatic rise in loan fraud, which surged to 46.5% as of June, up from 23.3% in March 2024 Kampala, Uganda | PATRICIA AKANKWATSA | Uganda’s banking sector is confronting a significant increase in fraud incidents, prompting experts to call for more stringent measures to address the escalating threat. Julius …

Kampala, Uganda | THE INDEPENDENT | The Principal Judge, Flavian Zeija, has called for stiffer laws and penalties for fraud offenses, especially for repeat offenders. Speaking at the Second Fraud Forum by the Uganda Bankers Association in Kampala, Justice Nzeija said fraudsters in Uganda found it easy to stay in …

Kampala, Uganda | THE INDEPENDENT | The Nakawa Chief Magistrates Court has remanded businessman cum politician Mukesh Shukla to Luzira Prison on charges of conspiracy to defraud  a Pakistan National’s company of more than 221.8 million shillings. Mukesh was on Wednesday arraigned before Court presided over by the Chief Magistrate Elias …

Kampala, Uganda | THE INDEPENDENT | The Anti Corruption Court in Kampala has remanded five employees of Equity Bank on charges of conspiring to defraud the bank of 62 billion shillings. They are Julius Musiimenta the Head Agency Banking, Erina Nabisubi the Relationship Manager Telecoms, Fred Semwogerere a Banker, Crescent Tumuhimbise …

Kampala, Uganda | THE INDEPENDENT | Equity Bank Uganda has launched investigations into cases of fraud surrounding their Stock Loan and Agent Float financing that happened recently. The Stock Loan product is a credit facility meant to support entrepreneurs, small and medium-sized enterprises (SMEs), and large businesses across various sectors with …

Hoima, Uganda | THE INDEPENDENT | The High Court sitting in Hoima has summoned a Swiss businessman David Ferdinand Heimhofer and his Ugandan girlfriend Mariam Kajumba to file a defense against accusations of putting an illegal caveat on land belonging to Testimony Motors Uganda. The said land worth 5 million Dollars …

Lists what Uganda top business executives fear more than theft, fraud, corruption COVER STORY | RONALD MUSOKE | A cyber-attack event is the top-most business risk for Ugandan business executives this year, according to a new survey published on Jan.23 by Allianz Group’s corporate insurer affiliate, Allianz Commercial. Cyber-attacks which include …