Stanbic Bank Uganda has launched a new anti-fraud awareness campaign aimed at protecting customers against the growing threat of digital and cyber-enabled financial fraud.
Dubbed “Stay Switched On,” the campaign seeks to equip individuals and businesses with practical knowledge on how to identify scams, protect their banking credentials and respond to suspicious financial activity.
The campaign comes as Uganda experiences rapid growth in digital banking and electronic payments, which has expanded access to financial services but also created new opportunities for fraudsters to target customers.
Speaking at the launch, Stanbic Bank Head of Coverage Sam Bulenzi said protecting customers’ money is an important part of the bank’s contribution to Uganda’s economic growth.
“At Stanbic Bank, we believe that driving Uganda’s growth is our moral obligation, but this goes beyond financing businesses and enabling transactions. It also means protecting our customers from the growing threat of financial fraud,” Bulenzi said.
“You cannot build wealth, grow businesses or strengthen the economy if the gains people make are constantly at risk of being lost to fraud. The ‘Stay Switched On’ campaign is about empowering Ugandans with the knowledge they need to bank safely and confidently in an increasingly digital world.”
The campaign is anchored in Stanbic’s purpose, “Uganda is our home, we drive her growth,” with the bank arguing that sustainable economic development requires not only expanding access to financial services but also protecting the wealth created by individuals and businesses.
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 component of fraud cases reported in the banking industry.
He said such cases now account for nearly one-third of all fraud cases reported within the banking sector, making customer awareness a critical part of financial security.
“Fraud is an industry-wide challenge. Initiatives such as the ‘Stay Switched On’ campaign are important because they help shift fraud prevention from being viewed solely as the responsibility of banks to becoming a shared responsibility between financial institutions and customers,” Adatu said.
Stanbic Bank Head of Fraud Risk Sophia Nakazibwe said fraudsters are increasingly exploiting human behaviour rather than attempting to break into banking systems.
“Today’s fraudsters are highly organised and increasingly sophisticated. They exploit trust, fear, urgency and even people’s willingness to help others. In many cases, they do not need to hack into banking systems because they manipulate customers into revealing their own passwords, PINs or one-time passwords,” Nakazibwe said.
“That is why awareness is one of the most effective fraud prevention tools we have.”
Nakazibwe urged customers never to share confidential banking credentials and to verify unexpected calls or messages purporting to come from financial institutions.
She also encouraged customers to report suspected fraud immediately.
“‘Stay Switched On’ is ultimately about changing behaviour. We want every customer to pause before responding to unexpected requests for money or personal information, verify the source, and remember that Stanbic Bank will never ask for their PIN, password or one-time password. A few moments of caution can prevent devastating financial losses,” she said.
At the centre of the campaign is the Stanbic Bank Uganda Security Centre, an online platform providing guidance on common fraud schemes, including phishing, unauthorised SIM swaps, ATM fraud and social engineering.
The platform also provides information on securing banking credentials and devices, as well as guidance on reporting suspicious activity.
Stanbic said the campaign is intended to encourage customers to remain alert as digital financial services become increasingly integrated into everyday transactions.
The bank said that while technology has made banking faster and more convenient, keeping money safe in the digital environment requires customers to remain vigilant and financial institutions to work together with their customers to prevent fraud.
