• 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
DR Congo and Rwanda Sign Peace Agreement

DR Congo and Rwanda Sign Peace Agreement

9 hours ago
Elgon Half Marathon Returns: A Run for People, Planet & Prosperity

Elgon Half Marathon Returns: A Run for People, Planet & Prosperity

14 hours ago
Stanbic Bank Remittance Ad
Ugandan Climate Activist Wins King’s Trust Award

Ugandan Climate Activist Wins King’s Trust Award

16 hours ago
Eazzystock Financing: Unlocking Affordable Capital for Distributors in Uganda

Eazzystock Financing: Unlocking Affordable Capital for Distributors in Uganda

16 hours ago
Northern Corridor States Push for Lower Airfares and Smarter Skies

Northern Corridor States Push for Lower Airfares and Smarter Skies

16 hours ago
Museveni Blames Youth Uprisings in Africa on Lack of Wealth Creation Strategy

Museveni Blames Youth Uprisings in Africa on Lack of Wealth Creation Strategy

16 hours ago
SoftPower News
Saturday, June 28, 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

321
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

DR Congo and Rwanda Sign Peace Agreement

Elgon Half Marathon Returns: A Run for People, Planet & Prosperity

Eazzystock Financing: Unlocking Affordable Capital for Distributors in 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

DR Congo and Rwanda Sign Peace Agreement

Elgon Half Marathon Returns: A Run for People, Planet & Prosperity

Ugandan Climate Activist Wins King’s Trust Award

Eazzystock Financing: Unlocking Affordable Capital for Distributors in Uganda

Northern Corridor States Push for Lower Airfares and Smarter Skies

Museveni Blames Youth Uprisings in Africa on Lack of Wealth Creation Strategy

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
Stanbic Bank Ad
  • 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