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Uganda's new fraud-fighting tool targets mobile money scams and financial crime

Fraud in Uganda's booming mobile money sector costs billions—now a real-time monitoring system aims to stop scammers in their tracks. Can it balance security with financial inclusion?

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1 min read
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Uganda's new fraud-fighting tool targets mobile money scams and financial crime

Uganda's digital payment sector has grown rapidly over the past five years, driven by mobile money services like MTN MoMo and Airtel Money. Transaction volumes have surged from around 50 trillion UGX to over 150 trillion UGX, reaching 70% of adults. However, rising fraud—including SIM-swap attacks and phishing—has cost the economy more than 100 billion UGX annually, pushing regulators to tighten security measures.

To tackle these challenges, Creditinfo has launched a fraud and identity solution in Uganda. The platform combines identity verification, risk signals, and watchlist checks to strengthen know-your-customer (KYC) compliance and reduce fraud exposure. It also monitors transactions in real time, flagging suspicious activity such as mule accounts and authorised push payment (APP) fraud.

The system is tailored to Uganda's market, addressing local risks while supporting financial inclusion. Advanced device intelligence helps prevent account takeovers and application fraud, ensuring safer digital transactions. Mark Mwanje, Managing Director at Creditinfo Uganda, highlighted that the tool assists businesses in meeting strict anti-money laundering (AML) rules while expanding access to financial services. The solution builds on Creditinfo's success in Kenya and aligns with a broader global programme to improve financial stability. Rob Meakin, Director of Fraud and Identity at Creditinfo, noted that it enables organisations to identify risks, maintain compliance, and protect customers without restricting access to essential services.

The new platform aims to curb fraud in Uganda's fast-growing digital economy. By integrating biometric verification and real-time monitoring, it addresses key vulnerabilities in mobile money and banking. Regulators and businesses now have stronger tools to secure transactions and reduce financial crime.

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