dfcu bank

For over the past year, Dfcu bank has received criticism for being reluctant with data security after leakage of vital information like bank statements of their top bosses to the public.

Accordingly, Dfcu bank has come out and restricted its employees from assessing crucial information especially those in the Information Technology (IT) section as a way of preventing information from being leaked to the public.

At some point, some shareholders threatened to withdraw their shares from the bank after the leakage of crucial bank statements and information to several online publications and the public.
This rubbishes claims by Dfcu Bank when they recently came out saying some online media outlets were spreading malicious information concerning its business operations. The local media have not been telling lies about the Crane Bank-Dfcu saga because they have evidence.

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This all began from the controversial purchase of Crane bank in January 2017. Bank of Uganda (BOU) liquidated Crane Bank in 2016 and controversially sold it in January 2017 to Dfcu Bank but the controversial transaction continues to haunt both of the top managers at BoU and Dfcu Bank.
Early this month, Eagle Online reported that a top boss at Dfcu bank has $40 million on his account Bank of Africa as showed by the statement of transaction.
The Bank of Uganda Consumer Protection Guidelines of 2011 compel financial institutions inclusive of commercial banks to safeguard the information of customers’ accounts.

It states; “A financial institution shall not disclose any information about the consumer includes information relating to the consumer’s account and any information about the relationship between the financial services provider and the consumer.

It is mandatory for banks to protect personal and banking-related information, but there are situations in which it can release this information for example when the law compels it to.

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