United Bank for Africa (UBA) Uganda Limited has refuted reports of the alleged loss of money from any of their customers’ accounts.
Reports have been circulating on social media indicating an alleged loss of $250,000 (about Shs965 million) from an undisclosed customer’s account.
In a statement issued by UBA, it states that no such incident has occurred.
“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,” reads the statement in part.
It further states that the bank operates under stringent security protocols and remains vigilant in protecting its customers’ financial assets.
However, the bank highlighted its Complaints Handling Policy, designed to address and resolve customer complaints promptly and effectively.
“Customers are encouraged to utilize the following contact information for any inquiries or complaints: Email: cfcuganda@ubagroup.com, Tel: +256 417715100, Toll Free: 0800100030, and Mobile: +256780142329 (WhatsApp),” it says.
The bank assured its customers that all customer accounts and transactions are secure and protected.
In February this year, the Uganda Bankers’ Association (UBA) chairperson Sarah Arapta revealed that, in efforts to combat banking fraud, together with other stakeholders, they were working on a legal framework for the prevention, deterrence, and remediation of the vice within the sector. She noted that if approved by the policymakers, the framework would see convicts of financial crimes face harsher punishments.