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Tag Archives: FIA

CSOs condemn gov’t for freezing NGO accounts

Kampala, Uganda | THE INDEPENDENT | Civil society activists have condemned the decision by the Financial Intelligence Authority-FIA to freeze the accounts of Uganda Women’s Network-UWONET and Uganda National-NGO Forum for alleged terror financing. FIA froze the accounts of the two organisations in Stanbic Bank, ABSA Bank, KCB Bank and Standard …

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UWONET denies claims of terror financing

Kampala, Uganda | THE INDEPENDENT | Uganda Women’s Network-UWONET has dismissed as false claims by the Financial Intelligence Authority-FIA that it is financing terrorism. On December 11, 2020, FIA froze the accounts of UWONET and Uganda National NGO Forum in Stanbic Bank, ABSA Bank, KCB Bank and Standard Chartered Bank on …

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Banks tighten identification procedures to curb illicit money transfers

Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority-FIA has downplayed the significance of notices being sent to some customers of commercial banks informing them of the identification requirements when making transactions with their banks. Some customers of some banks have been receiving notifications such as, “Dear Customer, as a …

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Tracking masterminds of Dunamiscoins money lending scam

Kampala, Uganda | THE INDEPENDENT  | Former employees at Dunamiscoins Resource Centre Ltd, a blacklisted cryptocurrency exchange have hinted that security agencies opted for soft targets in the scam that saw thousands of Ugandans lose billions in deposits. Dunamiscoins was operating a money lending business with branches in Masaka, Ndeeba, Mbale, …

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Gov’t probes 13 top NGO accounts

Kampala, Uganda | THE INDEPENDENT |  The Financial Intelligence Authority (FIA) has asked Equity bank for the account details of 13 non-governmental organizations to establish their source of their funding. They are Action Aid International Uganda, Citizens’ Coalition for Electoral Democracy in Uganda, Alliance for Campaign Finance Monitoring, Anti-Corruption Coalition Uganda, …

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Car dealers to report to FIA money laundering

Kampala, Uganda | THE INDEPENDENT | A proposal requiring car dealers to register with the Financial Intelligence Authority-FIA in the move to curb money laundering in the business is in the offing. Section 21 of the Anti-Money Laundering Act, 2013 mandates the FIA to register all accountable persons who are …

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FIA: Real estate sector prone to money laundering

Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority (FIA) Deputy Executive Director, Michael Olupot Tukei has said the real estate sector is prone to money laundering. The sector, according to Olupot has not received much attention making it easy for money launders to transact in the real sector without …

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