What will Uganda look like in the next 50 years? A lot has been said of our past. It is now time to focus on planning for the future because that is where we will spend the rest of our lives. The first reality check is how many Ugandans aged 45+ will live to celebrate our 101st independence anniversary in 2063? You got it right – very few, if any! We cannot continue living on hopes and ‘impressions.’ Life is short. It is time for action and accountability. As a leader, what does development mean to you? How are you…
“We’ve a strategy”, UTL clarifies
I just received a clarification from UTL’s m-sente manager (041433377x) in response to my earlier post today titled. UTL still doesn’t get it. According to the manager, the concerns raised in my article are founded, specifically the recommendation that UTL should encourage customers to pay for UTL services using m-sente by giving them discounts and prizes. He said, “We are in a transition process. We have had to upgrade our mobile money platform to make it more robust and interoperable. The recommendations you’ve made are in our plan, and we shall start rolling them out in the first quarter of…
UTL still doesn’t get it
This morning, I got a call from UTL’s m-sente (UTL’s mobile money service) marketing officer. She called my mobile using their office line 0414695258. She talked like a robot, and I did not like the approach. Here she is: “Good morning Sir. Is this Mr. Mugisa. I am calling from UTL. Thank you for using UTL network. I am calling you to use m-sente. You can now use it to pay Dstv, UMEME and National Water. Is there anything which has been stopping you from using m-sente.?” Here is how I replied: “Yes. There are many for not using m-sente. First,…
Towards a secure communication in Uganda’s banking industry; a presentation to CEOs of financial institutions in Uganda
This is a summary of my presentation to bank CEOs at an event organized by the Uganda Bankers Association onFriday 11th October 2013, at Sheraton Hotel. To download the presentation, click here. The rate of fraud in Uganda’s financial institution is on the increase. Just like any industry, communication (or transfer of data and voice) is at the center of the success of banking business. Banking business processes are highly automated, with technology as a critical success factor. All the communication media are at risk – email, chat, wire transfer, web, phone, sms, payment platforms via http and https, fax,…
Loan fraud in a bank, part 2: here is how internal staff loan fraud was uncovered
Continued from part 1. Just to recap part 1, loan officers in a bank created fictitious loan applications, got the loans and withdrew the money. This kind of scheme involving “stealing in small amounts, over a long period of time” is usually difficult to discover. Before we get to how we uncovered it, here is more background This fictitious loan fraud was so good that it would have continued, had it not been for a disgruntled whistleblower, who had been part of the scheme but later left the company. Of the 12 people in the credit department, four knew about…
Loan fraud in a bank, part 1: here is how internal staff commit loan fraud
After several years of investigating fraud, I have come to the realization that in many cases, internal staff are involved in one way or the other. It is so difficult to pull off a fraud without involving an insider. When it comes fraud examination, everyone is a suspect until proven otherwise. I have found it important to take everyone’s statement to account for their time, roles and activities immediately before, during and after the fraud or theft incident. Looking carefully through those statements, you get to realize how some of their information is inconsistent either in an attempt to protect…
