By Editorial,
Uganda Manufacturers Association is leading private sector efforts in a new struggle against financial fraud in business operations in the country.
Under this approach, a database is being developed to compile and profile any person who has been implicated in any form of financial fraud in any sector they might be in.
This then, will make it easier for prospective employers to do due diligence on professionals before they are hired or are contracted for any work.
Uganda Manufacturers Association Board Chairman, Deo Kayemba, said that the sector has suffered severely from fraud to the extent that many companies or investors are scared of hiring financial professionals or even leaving operations in their hands for fear of being defrauded.
He hoped that this new approach would discourage fraud by making it more risky for the perpetrators. Mr. Kayembe speaking…
Fraud in Uganda’s business sector has mainly been reported in the financial industry, mainly banks, insurance companies as well as telecommunications companies. END.