Dfcu Confirms Fraud Investigations at the Bank

By Max Patrick Ocaido

Dfcu Bank has confirmed a case of fraud at the Bank that is currently under police investigations.

The Bank however remains scanty with the details.

Dfcu’s Monday statement comes following online reports that some suspected people allegedly connived with staff and breached Dfcu’s system and accessed customers’ information before fleeing with billions of shillings.

In the statement, Dfcu does not reveal the magnitude of the fraud and insists that reports of this incident have been exaggerated with malicious intention to harm the reputation of the Bank.

“The Bank wishes to clarify that in May 2019, the Bank detected a case of fraud that was immediately reported to the police (CID HDQTRS GEF 604/2019) and investigations are ongoing. Unfortunately, reports of this incident have been grossly and maliciously misrepresented in an attempt to damage the reputation of the Bank, destabilise the banking sector and the economy in general,” the statement reads.

Dfcu adds that the Bank subscribes to the highest levels of compliance in its operations including Anti Money Laundering and is subject to regular inspections and examination by the relevant regulators on its conformity with both local and international compliance standards.

In a dramatic twist, the Bank is considering taking legal action against the online media that raised the dust on the alleged fraud.

“The Bank takes these malicious reports seriously and reserves the right to take legal action as well as to refer the authors and disseminators to the relevant law enforcement authorities. dfcu would like to reassure all its customers, stakeholders and the general public that the Bank is safe and sound and continues to focus on its mandate of making more possible for Ugandans through the provision of superior financial services that transform the economy and enhance the well-being of the people,” the statement adds.