• Latest
Mobile Money Agents will Ask National IDs to Transact over Shs1m

Mobile Money Agents will Ask National IDs to Transact over Shs1m

1 year ago
Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

21 hours ago
Uganda, Kenya Forge Stronger Cross-Border Ties

Uganda, Kenya Forge Stronger Cross-Border Ties

21 hours ago
Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

21 hours ago
Apostolic Nuncio Bids Farewell as Diplomatic Tour in Uganda Ends

Apostolic Nuncio Bids Farewell as Diplomatic Tour in Uganda Ends

21 hours ago
SONA Speech: Museveni Outlines Vision to Grow Economy to $500bn by 2040

SONA Speech: Museveni Outlines Vision to Grow Economy to $500bn by 2040

22 hours ago
Uganda Reaffirms Support for AfrECC in Oesophageal Cancer Fight

Uganda Reaffirms Support for AfrECC in Oesophageal Cancer Fight

22 hours ago
SoftPower News
Saturday, June 7, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home Business

Mobile Money Agents will Ask National IDs to Transact over Shs1m

by Rogers Atukunda
April 19, 2024
Mobile Money Agents will Ask National IDs to Transact over Shs1m

National IDs

319
VIEWS

Mobile Money agents will, with immediate effect, start demanding a valid Identity Card before a customer transacts more than Shs 1 million on the platform, according to a new directive by the Bank of Uganda.

The Bank of Uganda said it had observed a rise in the usage of mobile money platforms for online fraud and scams.

Related Stories

Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

Uganda, Kenya Forge Stronger Cross-Border Ties

Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

“Mobile money systems have occasionally been the target of cybercrime carried out by agents working with criminals,” BoU said in a statement on X.

“Therefore, in compliance with Section 55(1) b of the National Payments Systems Act, 2020 and Regulation 7 (h) of the National Payment Systems (Agents) Regulations, 2021, all financial transactions involving Shs 1,000,000 or more that are carried out at authorized agent locations and operator centres on digital financial service platforms must be completed after the holder’s identity has been verified.”

The bank said the agents will verify the customer’s identity using a valid national Identity Card (ID) (for Ugandans), passport, refugee ID/attestation letter, or alien ID (for foreigners).

Tags: Bank of UgandaMobile moneynational IDsSoftPowerSoftPower NewsTop Uganda NewsUganda

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

Recent Stories

Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

Uganda, Kenya Forge Stronger Cross-Border Ties

Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

Apostolic Nuncio Bids Farewell as Diplomatic Tour in Uganda Ends

SONA Speech: Museveni Outlines Vision to Grow Economy to $500bn by 2040

Uganda Reaffirms Support for AfrECC in Oesophageal Cancer Fight

Visit UBOS Website
SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News