Stanbic Bank Uganda has launched a new awareness campaign aimed at helping customers protect themselves against the growing threat of digital and cyber-enabled financial fraud. Dubbed “Stay Switched On,” the campaign is designed to equip individuals and businesses with practical knowledge on identifying scams, securing their banking information and responding to suspicious financial activity.
The initiative comes as digital banking and electronic payments continue to expand across Uganda, making financial services faster and more accessible. However, the increasing use of digital platforms has also created new opportunities for fraudsters to target customers through scams designed to steal money and sensitive information.
Speaking at the launch, Stanbic Bank Head of Coverage Sam Bulenzi said protecting customers from financial fraud is an important part of the bank’s contribution to Uganda’s economic growth. He said the responsibility of a financial institution goes beyond financing businesses and facilitating transactions to ensuring customers are able to protect the wealth they create.
Bulenzi said the “Stay Switched On” campaign seeks to give Ugandans the knowledge required to bank safely and confidently in an increasingly digital environment. He noted that economic progress can be undermined when individuals and businesses lose their financial gains to fraud.
Stephen Adatu, Vice Chairperson of the Fraud and Forgery Subcommittee at the Uganda Bankers Association, said digital and cyber-related fraud has become a significant concern across the banking industry. He noted that such cases now account for nearly one-third of fraud incidents reported within the sector, making public awareness an important component of fraud prevention.
Stanbic Bank Head of Fraud Risk Sophia Nakazibwe warned that fraudsters are increasingly exploiting human behaviour instead of directly attacking banking systems. She said criminals use tactics involving trust, fear, urgency and sympathy to manipulate customers into revealing confidential information such as PINs, passwords and one-time passwords.
Nakazibwe urged customers to remain cautious whenever they receive unexpected calls, messages or requests involving money or personal information. She reminded customers that Stanbic Bank will never ask them to disclose their PIN, password or one-time password and encouraged anyone who suspects fraudulent activity to report it immediately.
The campaign is supported by the Stanbic Bank Uganda Security Centre, an online platform providing guidance on common fraud schemes, including phishing, SIM-swap fraud, ATM fraud and social engineering. Stanbic is urging customers to make vigilance part of their everyday banking habits, stressing that protecting money in the digital age requires both financial institutions and customers to play an active role.
