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MTN Uganda loses billions in scam

March 15, 2012 • Mobile and Telecoms, Top Stories

Ugandan police are currently investigating their first case of mobile money fraud.

The problems continue for MTN Uganda. (image: blogspot.com)

According to a statement released by MTN Uganda on Wednesday, a scam has cost them billions of shillings.

The scam included at least two companies police said. Investigations are looking into how transactions were made, including loopholes which could have allowed criminals to use new services to steal from users and telecom operators.

However, police say customers’ finances remained untouched. MTN Corporate Affairs Manager Justina Ntabgoba-Kayemba confirmed the ongoing investigation into the matter.

“MTN Uganda’s internal Money Laundering System recently detected incidents of internal fraud. The police were notified and are conducting investigations into the extent of the fraud, which restricts us from providing any specific details.”

Joseph Mayton

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