Fraud after Fraud: Equity Bank Uganda Faces Fraud Allegations as Customers Lose Millions.


Equity Bank Uganda is facing increasing scrutiny over allegations of fraudulent activity. In a recent incident, an unidentified male customer has accused the bank of stealing Ugx10m from his account. The customer claims that the bank has ignored him since the fraudulent withdrawal and has not provided any assistance.

This is not the first time that Equity Bank Uganda has been accused of fraud. In February 2023, the bank was accused of emptying the account of a customer named Rose Ahebwa. Ahebwa claims that she was contacted by the bank’s customer service department and advised to subscribe to a number of products, including mobile banking.

She rejected the offer, but a few hours later, she discovered that her account balance had been reduced to only Ugx27,000. When she took the matter to the bank manager, she was told not to report it to the police and that her case would be handled. However, she never received any assistance from the bank.

Another customer, Maxwell Lawrence Muyonjo, also claims to have been a victim of fraud at Equity Bank Uganda. In December 2022, his mobile phone was stolen, and the next day, someone accessed his mobile banking account and withdrew Ugx30.6 million. The fraudster also applied for a Ugx500,000 instant loan in Muyonjo’s name.

Equity Bank Uganda has denied the allegations of fraud. In a statement released on October 10, 2023, the bank said that it is engaging and supporting the affected customers and working with the relevant authorities to resolve the matter. However, the bank has not provided any specific details about what steps it is taking to address the allegations.

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