Beware of fraudsters, UIA warns business community

PIC: Uganda Investment Authority boss Jolly Kamuhangire

BUSINESS | CONMEN

The Uganda Investment Authority (UIA) has asked the business community to be careful when dealing with anyone who claims to be from the authority.

UIA warned that some of these so-called agents are simply conmen out to extort investors.

Over 40 local investors have registered complaints of extortion. In most of the cases, fraudsters promise to secure them investment permits and other requirements necessary in the execution of business, only to disappear with the money.

UIA's chief Jolly Kamuhangire asked investors to be vigilant, saying the conmen use  fake emails, purportedly from the authority, to lure their victims.

The deputy Police spokesperson, Polly Namaye, confirmed that one suspect has been arrested.