Enhancing Anti-Fraud Measures: Equity Group Broadens Crackdown on Deceit in Uganda during Ongoing Governance Reform
Equity Bank Uganda Launches Anti-Fraud Drive as Part of Group-Wide Initiative
Equity Bank Uganda has embarked on an anti-fraud drive as part of a broader group-wide initiative to reinforce governance, transparency, and fraud prevention across its operations in East Africa. The drive, which began in mid-2025, is aimed at strengthening internal controls, upholding ethical standards, and eliminating conflicts of interest [1].
The key goals of this anti-fraud drive include conducting routine audits and staff performance evaluations, using AI-driven analytics to detect irregular transactions, enhancing whistleblower protections, and establishing clear behavioral standards [1]. Equity Bank Uganda is also implementing ethics training programs for its staff and backend risk monitoring tools such as AI-driven analytics [1].
The anti-fraud drive in Uganda isn't tied to any specific incident but aligns with the bank's ongoing strategy to enhance governance throughout its operations. Gift Shoko, Managing Director of Equity Bank Uganda, stated that routine audits, staff performance evaluations, and scrutiny of conflict-prone areas are part of the bank's efforts [1].
The anti-fraud drive was initiated by Equity Group following a major internal crackdown in Kenya. Investigations uncovered over $15 million lost through collusion between employees and external fraudsters over the past two years [1][2]. As a result, Equity Group dismissed over 1,500 Kenyan staff for such activities and extended its rigorous internal disciplinary efforts to Uganda as part of a governance overhaul [1][2].
In Kenya, the bank's extensive anti-fraud crackdown revealed deep-rooted collusion between employees and external fraudsters. The bank is scrutinizing every disbursement and tracking its destination [1]. Some implicated employees in Uganda have presented their side, while others have not, and disciplinary actions are now in progress [1].
Equity Bank Uganda has initiated a "culture of accountability" campaign as part of the broader group-wide effort to reinforce internal controls, uphold ethical standards, and eliminate conflicts of interest. The anti-fraud process in Uganda is anticipated to conclude by the end of July [1].
Initially a building society in Kenya, Equity has expanded into one of Africa's largest banks with a capitalization of $1.3 billion (KES180 billion) [1]. Equity primarily serves low-income clients with affordable services [1]. The bank's operations span across seven markets, including Uganda, Rwanda, Tanzania, South Sudan, and the DRC [1].
The anti-fraud drive in Uganda is being supported by external auditors and legal experts [1]. The bank is also enhancing its whistleblower safeguards to encourage employees to report any suspicious activities [1]. The anti-fraud drive isn't about punishing employees but about guiding the team and establishing clear standards, according to Shoko [1].
The anti-fraud drive in Equity Bank Uganda is one of the most assertive in Kenya's banking sector [1]. The bank's efforts are a testament to its commitment to maintaining a high level of integrity and transparency in its operations. The anti-fraud drive is expected to significantly improve the bank's internal controls and strengthen its reputation as a reliable financial institution.
References:
[1] Equity Group. (2025). Equity Bank Uganda Launches Anti-Fraud Drive. Retrieved from https://www.equitybankgroup.com/news/equity-bank-uganda-launches-anti-fraud-drive
[2] Standard Digital. (2025). Equity Bank Uganda's Anti-Fraud Drive: What You Need to Know. Retrieved from https://standardmedia.co.ke/business/article/2001406930/equity-bank-ugandas-anti-fraud-drive-what-you-need-to-know
Technology plays a crucial role in the anti-fraud drive, as Equity Bank Uganda uses AI-driven analytics to detect irregular transactions and back-end risk monitoring tools to reinforce internal controls [1]. This business-led initiative in the field of finance aims to uphold ethical standards and eliminate conflicts of interest [1]. The bank's whistleblower safeguards are also being enhanced to encourage employees to report any suspicious activities [1].
