SIR – As a holder of a bank account, I was very concerned when I read the article about fraud in the bank. Such case studies are very good and educative as they reveal schemes used by criminals to defraud the unsuspecting public.
For long, I have noted charges on my bank account which are difficult to explain. I was once informed of a fraud called Salami technique – where small amounts (like Ugx 50) are deducted from unsuspecting customer accounts, over a long period of time, and credited on another fraudulently created account in the Banking System. To the customer, a small charge say Ugx 50 on their account with a balance of Ugx 10,000 is negligible. Yet, when you apply such a deduction daily over 5m customers that is almost 5,000,000x50 or Ugx 50,000,000 daily.
How does the regulator, Bank of Uganda provide assurance to the public that such schemes do not take place? I am very concerned especially of the several charges I see on my account.
Peter Kyomuhendo, Hoima