Eight remanded over conspiracy to steal Shs8 billion from Housing Finance Bank

Eight individuals, including a driver, land broker, student, and clearing agent, were on Friday, 22 December 2023, remanded to Luzira prison for allegedly conspiring to steal over UGX 8 billion from Housing Finance Bank.

The accused are Muganga Tawufik Mubarak, aliasAgaba Ismael, a broker; Mubiru Shadat, a driver; Kato John Baptist Ssewanyana,  a businessman in Kyengera, Sande Umar from Nansana; Kakooza Adam, a clearing agent, and Napoleon Kakye, a resident of Buwate.

The group, allegedly aided by Mwanjje Shafic, a 27-year-old student and resident of Najjera; and Segujja Mubarak, a salesman and resident of Kawempe and Joshua Lubega, a pastor, successfully stole UGX 2.1 billion through electronic means from various customer accounts in Housing Finance Bank, as revealed in Buganda Road Court.

Police slapped on the suspects charges of impersonation, electronic fraud, conspiracy, and theft.

Police spokesman Fred Enanga said the suspects and others still at large committed the offence between October and November 2023.

He said the arrest sends a clear message to those who defraud banks, saying that police is preparing for them.

Police urged all banks to remain vigilant as more cases of electronic fraud are expected to rise in the festive season when there is less activity in banks.

A total of Shs19.2b was stolen in cybercrime in Uganda in 2022, the Annual Crime report released by police indicates.

According to the report, cybercrimes led to a loss of Shs19,209,798,000 in 2022, out of which Shs 16,790,000 was recovered. There was a general increase in cybercrime from 256 cases reported to police in 2020 to 286 cases reported in 2022, giving a 10.8% increase.

By the end of that year, 45 cases were taken to court, 9 cases were not proceeded with while 232 cases are still under inquiry. Out of the total cases taken to court, 5 cases secured convictions, 1 case was dismissed while 39 cases are pending in court.