Post by Sapphire Capital on Aug 13, 2008 5:41:07 GMT 4
Monday, 11th August, 2008
Source: Charles Ariko + Nuliat Nakiwala
THE Police have warned of a new wave of crime in financial institutions where bank officials conspire with conmen to siphon money out of bank accounts.
Simeo Nsubuga, the Kampala Extra region spokesman, yesterday said the Police’s investigations were hampered by the banks’ reluctance to report for fear of negative publicity.
“Banks do not want to reveal what is happening. They say it is an internal matter,” Nsubuga told a press conference at the Central Police Station yesterday.
Bank officials transfer money to the accounts of their accomplices without the customers’ knowledge, he explained.
He said 11 suspects, including four officials of Crane Bank, had been arrested last week for fraudulently withdrawing over sh50m.
Without giving specifics, Nsubuga said the problem appeared to be widespread but regretted that the Police efforts at investigating the cases were being frustrated by the banks which prefer to handle the matter internally rather than expose it. In some instances, customers’ signatures had been forged and transactions conducted using the unsuspecting customer’s accounts, he said.
Nsubuga warned the public against withdrawing money from their accounts if they found unexplained balances on them.
“If you find some unexplained deposits on your account don’t rush and pick it because when we are investigating, we shall arrest you,” Nsubuga said.
He advised customers to always ask for bank statements.
Banks are not the only institutions that fall victim to theft by their employees. The Police are hunting for a marketing manager who vanished with sh10m belonging to the company he worked for.
Deo Bainomugisha, who worked for Muyenga-based Allassan Company that deals in construction materials, reportedly picked the money from Moyo district where the company had supplied materials.
After convincing the district authorities to pay him the money in cash instead of a cheque, Bainomugisha disappeared.
Source: Charles Ariko + Nuliat Nakiwala
THE Police have warned of a new wave of crime in financial institutions where bank officials conspire with conmen to siphon money out of bank accounts.
Simeo Nsubuga, the Kampala Extra region spokesman, yesterday said the Police’s investigations were hampered by the banks’ reluctance to report for fear of negative publicity.
“Banks do not want to reveal what is happening. They say it is an internal matter,” Nsubuga told a press conference at the Central Police Station yesterday.
Bank officials transfer money to the accounts of their accomplices without the customers’ knowledge, he explained.
He said 11 suspects, including four officials of Crane Bank, had been arrested last week for fraudulently withdrawing over sh50m.
Without giving specifics, Nsubuga said the problem appeared to be widespread but regretted that the Police efforts at investigating the cases were being frustrated by the banks which prefer to handle the matter internally rather than expose it. In some instances, customers’ signatures had been forged and transactions conducted using the unsuspecting customer’s accounts, he said.
Nsubuga warned the public against withdrawing money from their accounts if they found unexplained balances on them.
“If you find some unexplained deposits on your account don’t rush and pick it because when we are investigating, we shall arrest you,” Nsubuga said.
He advised customers to always ask for bank statements.
Banks are not the only institutions that fall victim to theft by their employees. The Police are hunting for a marketing manager who vanished with sh10m belonging to the company he worked for.
Deo Bainomugisha, who worked for Muyenga-based Allassan Company that deals in construction materials, reportedly picked the money from Moyo district where the company had supplied materials.
After convincing the district authorities to pay him the money in cash instead of a cheque, Bainomugisha disappeared.