Overview:
On Monday morning, this website reported that about 500 million shillings of counterfeit currency in 50,000 notes was discovered by a security operation in the bank’s vault.
The management of PostBank Uganda has said they are working with police in investigating an incident at its Mbale Branch regarding counterfeit money.
On Monday morning, this website reported that about 500 million shillings of counterfeit currency in 50,000 notes was discovered by a security operation in the bank’s vault.
This was after a bank customer reported that he had withdrawn fake currency notes from PostBank Mbale Branch.
In a statement, Post Management said they were aware of an anomaly and were working with “the relevant authorities to complete the investigation and follow the necessary next steps.”
The company said that since investigating authorities were handling the matter, the management could not comment further. Reports show that officials at the bank are among those that have been arrested so far.
“PostBank Uganda reassures its customers that all transactions remain secure as investigations into the anomaly at the Mbale Branch continue,” the bank said.