Bank of Uganda (BoU) Governor, Michael Atingi-Ego has called on mobile money users across the country to take a proactive approach in reporting suspected fraud, emphasizing the need to follow proper complaint procedures to ensure swift resolution.
Speaking during the recent reading of the Monetary Policy Statement, the Governor said that mobile money fraud is a growing concern in Uganda’s fast-expanding digital payments ecosystem, but cases can be effectively addressed if reported through the right channels.
Start with Your Service Provider
Governor Atingi-Ego stressed that the first step for any mobile money user who believes they have been defrauded is to report the incident to their mobile money service provider.
Telecom operators are responsible for investigating and resolving customer complaints linked to their platforms, including unauthorized transactions, fraudulent withdrawals, or suspicious account activity.
“If customers are not satisfied with the resolution provided by their mobile money operator, the next step is to escalate the matter to the Bank of Uganda, particularly if it concerns mobile money operations,” the Governor said.
Escalating Complaints to the Central Bank
The Governor noted that the Bank of Uganda has clear mechanisms for handling escalated complaints. These involve contacting the Director of Communications and Public Relations or the Director of National Payments Systems.
Complaints can be submitted the official channels, the BoU will then assess the matter, engage the relevant mobile money service provider, and work toward a fair resolution.
Atingi-Ego reassured the public that the central bank takes all complaints seriously and acts promptly when they are raised through the official process.
“The Bank is not aware of any unresolved complaints that have been properly reported to us,” he said. “If there are concerns, we are ready to take a keen interest and ensure they are addressed.”
Digital Payments Growth and Risks
Uganda’s mobile money sector has experienced rapid growth in recent years, with millions of transactions processed daily.
The service has become a vital part of the country’s economy, enabling cashless payments, business transactions, and financial inclusion for previously unbanked populations.
However, this growth has also attracted fraudsters who exploit gaps in user awareness, security protocols, and reporting systems. Common schemes include phishing scams, SIM card swaps, and fraudulent SMS prompts requesting users’ PINs or personal details.
By following proper reporting channels, the Governor said, customers can help curb these crimes and strengthen trust in Uganda’s mobile money ecosystem.
BoU’s Commitment to Consumer Protection
The Bank of Uganda has reiterated its commitment to protecting consumers in the financial sector. This includes working closely with telecom operators, strengthening regulatory oversight, and promoting public awareness about secure mobile money use.
All Ugandans were encouraged to remain vigilant, safeguard their PINs, avoid sharing personal details with strangers, and immediately report any suspicious activity to their service provider.
“Your concerns matter, and we take them seriously, we can only address problems if they are reported through the right procedures,” the Governor emphasized.