A storm has erupted on social media after businessman Bernard Katehangwa accused Standard Chartered Bank Uganda (@StanChartUGA) of robbing him of UGX 67 million through what he claims was an insider scheme.
In a post on X (formerly Twitter) that has since gained traction, Katehangwa alleged that the money was withdrawn from his company account, Meridian Sales and Services, by an agent linked to the bank. According to him, Standard Chartered has declined to disclose the identity of the said agent or take responsibility for the loss.
“Robbed by Standard Chartered Bank. A total of 67 million was withdrawn from my account using their agent whom they do not want to disclose. The racket at StanChart is accelerating their theft skills before the bank sells off,” Katehangwa wrote.
Silence from the Bank
Despite the public outcry and growing attention online, Standard Chartered Uganda has yet to issue an official statement on the matter. This silence has fueled frustration among customers and raised concerns about accountability and transparency within Uganda’s banking sector.
A Wider Pattern of Complaints
Katehangwa’s allegations are not isolated. Over the years, several commercial banks operating in Uganda have been accused of dubious withdrawals, double debits, and failure to resolve fraud-related complaints. In many cases, customers report a lack of support, delayed investigations, or outright dismissal of their claims.
Banking analysts say such cases have damaged public confidence in the formal banking system, especially at a time when digital and agent banking are rapidly expanding. While the Bank of Uganda regulates the sector, critics argue that customer protection mechanisms remain weak.
Customers Demand Accountability
The latest accusation has reignited debate about how commercial banks handle internal fraud and cybercrime, with many urging for stricter regulations and quicker customer redress systems.
For now, all eyes remain on Standard Chartered Bank Uganda to see how it responds to Katehangwa’s claims — but until then, questions about service delivery, accountability, and customer safety in Uganda’s banking sector continue to grow louder.
