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Ugandans and businesses in 2024 lost USD272 mn in economic crimes; cybercrime, bank, and fraud double Uganda is grappling with a surge in financial crimes, with cyber fraud, bank scams, and corporate misconduct costing the economy over USD 272 million in 2024. As digital threats escalate, criminals exploit loopholes, leaving victims with devastating financial losses.

by CEO East Africa Magazine
Uganda faces a financial crime crisis as cyber fraud, bank scams, and corporate fraud escalate, costing the economy over USD 272 million in 2024 and exposing vulnerabilities in digital security and financial systems.

Even though the number of financial and economic crimes rose mildly, by 1.6%, from 12,924 cases in 2023 to 13,132 cases in 2024, the severity and amount of money lost…

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