Close relative reportedly involved in the Equity Bank fraud

By Drone Reporter 

According to reports coming to The Drone Media news desk, a close relative to Nakacwa, a victim of the eazzy app fraud in the Equity Bank, used her NIN and ATM to open an eazzy account and helped himself to Nakacwa’s funds.

However, that is not an excuse. Nakacwa’s funds ought to be protected. It does not make it right since she registered her number with the bank, how cone she did not receive notifications?

In most instances in Uganda, criminal gangs or employees obtain the particulars of a credit card through imaging techniques when being used to pay for goods and services and use the information to clone a fraudulent card which is then used to defraud the holder of the card. To protect against such frauds, customers are advised to memorise their PINs and never to write it down or share it with any other person. They should desist from the habit of giving cards and PINs to other people to withdraw money on their behalf.

Cardholders should never use a card in an ATM where they see suspicious equipment or people. Always insist that cashiers swipe customer’s cards in a machine that should be well located at the counters in the site of the cardholder and not under the counters or back offices.

Bank fraud: A fine of up to $1,000,000 and/or a prison sentence of up to 30 years. Mail and wire fraud: Both carry a maximum prison sentence of up to 20 years. If the scheme also involved a bank, the potential fine increases to up to $100,000:

The offence of Fraud carries a maximum penalty of 2 years imprisonment in the Local Court and a maximum penalty of 10 years imprisonment in the District Court. Fraud is an offence that captures a wide range of conduct.

If you have been a victim of a bank fraud or somebody has scammed money out of your bank account, the bank is not liable to compensate you for your loss, according to a consumer court in Gujarat. The Consumer Dispute Redressal Commission in Amreli denied compensation of a victim of fraud who got duped of ₹41,500.