Bank of Uganda introduces mandatory ID verification for major transactions

Bank of Uganda introduces mandatory ID verification for major transactions

The Bank of Uganda has announced a new mandate requiring ID verification for all digital transactions over one million Uganda shillings. The directive, unveiled via the bank’s official Twitter (X) account, aims at curbing the rising tide of fraudulent activities associated with mobile money services. Under this new regulation, which aligns with the National Payments Systems Act of 2020, and the subsequent 2021 regulations, users making...

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SECURITY DOCUMENT WORLD
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DIGITAL ID
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