Stanbic Bank has acknowledged the arrest of ten people with the help of the Uganda Police, suspected of fraudulently withdrawing Shs6.6 billion from a customer’s account using forged documentation.
In a statement issued on February 13, 2023, Stanbic Bank says the suspects have since been produced before the anti-corruption court and charged with ‘causing financial loss and money laundering’.
Stanbic Bank also clarified that there was no ‘intrusion into the bank’s systems’ as alleged by some media reports.
“Cases of fraud are on the rise in the financial service sector. Stanbic bank appeals to customers and Ugandans in general to remain vigilant and safeguard personal and business banking details to avoid becoming victims of fraud,” Stanbic stated.
The Bank added, “No further comments will be made on this matter as the case is before court.”
