KAMPALA -United Bank For Africa (UBA) Uganda Limited has dismissed as false allegations circulating on various online news platforms regarding the alleged loss of $250,000 (UGX 965 Million) from an undisclosed customer’s account.

Some media platforms were reporting that the customer has since tasked the bank to return the money.

But in a statement, UBA Uganda asserts that no such incident has occurred and reassures its valued customers and the general public of its unwavering commitment to the highest standards of security and transparency.

“As a financial institution that prides itself as 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. The Bank operates under stringent security protocols and remains vigilant in protecting its customers’ financial assets,” they said.

UBA Uganda further highlights its Complaints Handling Policy, designed to address and resolve customer complaints promptly and effectively.

The bank extends its assurance that all customer accounts and transactions are secure and protected, reaffirming its commitment to maintaining the trust and confidence of its clientele.

According to The 2022 Annual Crime Report, a total of 286 cases of Cybercrimes were reported to the Police in the period under review compared to 258 cases reported in 2021, giving a 10.8% increase in this crime category.

By the end of the year, 45 cases were taken to Court, 09 cases were not proceeded with while 232 cases are still under inquiry. Out of the total cases taken to Court, 05 cases secured convictions, 01 case was dismissed while 39 cases are pending in Court. Cybercrimes led to a loss of Ugx. 19,209,798,000 in 2022, out of which only Ugx. 16,790,000 was recovered.

There has been a general increase in cases of Cybercrimes from 256 cases reported to the Police in 2020 to 286 cases reported in 2022