BANK of Uganda (BOU) has directed commercial banks to issue it with their security programmes following rampant fraud cases related to information technology (IT) transactions, Nicholas Kajoba writes.

“The banking sector has been hit by IT-related fraud cases of recent. Under the new measures, all banks should provide us (BOU) with their security details in order to help them fight the vice,” governor Emmanuel Mutebile said.

The governor was opening Bank of Baroda’s ninth branch in Mukono recently. Pramod Gupta, the Bank of Baroda boss, said the bank that started operations in 1908 had grown to over 70 branches across the globe.