As digital banking and electronic payments continue to transform Uganda’s financial sector, Stanbic Bank Uganda has launched a new anti-fraud awareness campaign, dubbed “Stay Switched On,” aimed at helping customers protect themselves from the growing threat of digital and cyber-enabled financial fraud.
The campaign seeks to equip customers with practical knowledge and tools to identify common scams and adopt safer banking habits as digital financial services continue to expand.
Speaking at the launch, Stanbic Bank Head of Coverage, Sam Bulenzi, said protecting customers’ finances is an important part of the bank’s commitment to supporting Uganda’s economic growth.
“At Stanbic Bank, we believe that driving Uganda’s growth is our moral obligation, but this goes beyond financing businesses and enabling transactions. It also means protecting our customers from the growing threat of financial fraud,” Bulenzi said.
He noted that economic growth and wealth creation cannot be sustained if individuals and businesses constantly risk losing their hard-earned money to fraud.
“The ‘Stay Switched On’ campaign is about empowering Ugandans with the knowledge they need to bank safely and confidently in an increasingly digital world,” he added.
The initiative is aligned with the bank’s purpose, ‘Uganda is our home, we drive her growth,’ recognising that sustainable economic development requires not only wider access to financial services but also stronger protection of the wealth customers work hard to build.
Uganda’s financial sector has recorded rapid growth in digital banking and electronic payments in recent years. While this has increased convenience and access to financial services, it has also created opportunities for increasingly sophisticated fraud schemes.
Stephen Adatu, Vice Chairperson of the Fraud and Forgery Subcommittee at the Uganda Bankers Association, said digital and cyber-related fraud now accounts for nearly one-third of fraud cases reported in the banking industry.
He said combating fraud requires a collective effort involving financial institutions, customers and other stakeholders.
Stanbic Bank Head of Fraud Risk, Sophia Nakazibwe, said fraudsters are increasingly exploiting human behaviour rather than attempting to break into banking systems.
“Today’s fraudsters are highly organised and increasingly sophisticated. In many cases, they manipulate customers into revealing their passwords, PINs or one-time passwords,” Nakazibwe said.
She urged customers never to share confidential banking information, to verify suspicious calls and messages, and to report suspected fraud immediately.
At the centre of the campaign is the Stanbic Bank Uganda Security Centre, an online platform providing practical guidance on identifying and preventing scams such as phishing, unauthorised SIM swaps, ATM fraud and social engineerin
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