Police in Gulu are investigating a new racket of mobile money fraudsters. According to police, the fraudsters hack into the account of mobile money dealers and steal their float.
James Asubu, the Officer in charge of Crimes at Gulu Central Police Station, says on average he receives three cases of fraudulent transactions each day. Asubu says several mobile money operators have lost millions of Shillings in fraudulent transactions.
He says the fraudsters work in groups and move from place to place to defraud dealers. Asubu faults the dealers for rushing to send cash without receiving anything in return.
Fatuma Nalubega, a mobile phone dealer in Gulu main market is the latest victim of the fraud. According to Nalubega, she lost Shillings 1.5 million to the racket.
Nalubega says the fraudsters tricked her using the identity of her boss to transfer the money on their accounts.
Persons living in Europe now have another digital money transfer platform through which they can send money to mobile phones in Uganda.
The new service by SimbaPay, a London based money transfer provider, allows Ugandans living in the United Kingdom and other European Union countries to remit money to anyone in Uganda using an app.
Transfers made using SimbaPay are credited within seconds to recipients’ mobile money wallets and can be accessed from any Mobile Money agent instantly. The same service has been extended to Ghana.
“This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will expand coverage to their home countries” Nyasinga Onyancha, the Chief Executive Officer of SimbaPay said in a statement issued this morning.
He adds that by delivering money via existing mobile money wallet services, many recipients who could not access formal financial services can now do so. Uganda has over 20 million Mobile Money subscribers.SimbaPay also delivers mobile money transfers to Nigeria and Kenya.
The Company joins a market already occupied by WorldRemit, whose customers have since April 2016 been able to send international remittances instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.
Another App known as wave is used by Ugandans in United States of America to send mobile money to subscribers in East Africa.
There are over 3 million Ugandans in the Diaspora whose remittances increased from USD 411 million (1.4 trillion Shillings) to $915 million (3.2 trillion Shillings) in 2014, according to the 2015/2016 budget speech by finance minister Matia Kasaija.
Most remittances to Uganda from the Eurozone come from the United Kingdom which, according to a 2012 report by the UN Conference on Trade and Development (UNCTAD), was a source of USD 176 million (630 billion Shillings) that is sent to Uganda.