The Governor of the Bank of Uganda (BoU), Michael Atingi-Ego, has addressed growing public concern over mobile money fraud and theft, warning that these crimes threaten trust in the country’s digital payment ecosystem.

Speaking at a press briefing at BoU headquarters in Kampala, Governor Atingi-Ego urged the public to report any cases of mobile money fraud through the proper channels.

He advised that complaints should first be raised with the relevant mobile money service providers, and only if unresolved should they be escalated to the Bank of Uganda.

“The Bank is not aware of any unresolved complaints raised through the proper channels. If you have any concerns, please share them with the Director of Communications and Public Relations or the Director of National Payments Systems so that we can look into them and work towards a solution together,” said Governor Atingi-Ego.

The Governor’s comments come amid a rising number of scams, thefts, and internal collusion within mobile money providers, which continue to threaten public confidence in digital financial services.

Governor Atingi-Ego stressed the importance of public vigilance in protecting the integrity of Uganda’s digital payment system. He encouraged citizens to promptly report suspicious activity to ensure fraud cases are addressed, thereby maintaining trust and sustainability in mobile money services.

In October 2024, Uganda’s mobile money system experienced a major cyberattack affecting around 2,000 SIM cards, linked to a company called Pegasus Technologies. The breach resulted in estimated losses of at least USD 3.2 million.