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Bank Fraud: Stanbic Bank official, 8 others arrested over US$ 1.8 Million

By Executive Editor

The Special Investigative Division (SID) of Police has in custody nine people accused of bank fraud.

Sources say the suspects including a banker, Moses Ayesiga (Manager, Stanbic – Garden City Branch) at Stanbic Bank, are accused of fraudulently withdrawing USD 1.8 million. Investigations show that between late January 2023 and early February 2023, the suspects used computer systems intrusion and accessed a client’s account, withdrawing money in six withdrawals from Garden City and Freedom City Branches respectively.

Police Spokesperson Fred Enanga says the suspects will this afternoon appear before the Anti-Corruption Division in Kololo on charges of causing financial loss and money laundering.

This is a developing story.

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