Was murdered indian owner of loan apps?
The silence of laon apps exhibited after the murder of an Indian money lender in Kampala, a one UTTAM BHANDARI, suggests that his TFS Financial Services was directly linked to loan apps in Uganda. Yet, these loan apps have been disowned by Bank of Uganda and Uganda Communications Commission (UCC).
DoveCash, FairCredit, Echoloan, Mara, Numida and OKLoan are all reputable money loaning apps that can provide you with an instant cash. While these apps can help in tight situations, they’re best used in irregular situations. Be sure to research and compare all of your options before using an instant loan app.
Lending apps are pushing Ugandans into debt traps by offering “instant loans.” But the high-interest rates on these short-term loans have left many in a financial hole.
Uganda Communications Commission’s (UCC) Kaggwa says after doing their homework, the people that the apps target should “always be cautious.”
Some of these apps are regulated by the Uganda Microfinance Regulatory Authority but the borrowers say these money lending apps need more regulation. The Telecom companies like Airtel and MTN are paid a fee when financial transactions are being made.
How do I get rid of fake loan apps?
File a police report for fraud with all the necessary details. In the case of a fake loan app or online scam, you can also file a cybercrime report.
Meanwhile the Police Officer who shot and killed an Indian at Rajja Chambers has been arrested. On 12 May 23 at around 1230 hours at Raja Chambers along Parliamentary Avenue , one UTTAM BHANDARI an Indian by Nationality and the director of TFS financial services was shot dead by allegedly a police officer only identified as No.67029 PC Wabwire Ivan.
A joint team of security traced the suspect to Busia district. On 13 May 23, Flying Squad Unit joined the territorial police of Busia.
On 14 May 23 at around 0700 hours , Wabwire Ivan was arrested in Busia Municipality at Customs by a joint team commanded by the DPC Busia SP Didas Byaruhanga.
Wabwire Ivan aged 30 a police officer attached to CPS Kampala is currently detained at CPS Busia pending transfer to CPS Kampala.
“We want to thank the officers who worked for the last 42 hours to ensure that Wabwire is arrested, ” Patrick Onyango SSP PRO KMP said in a press release.