Financial Fraud: Our system is secure, responds Centenary Bank

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The Rural Development Bank popularly known as Centenary Bank raised its voice a few days back following the alleged financial fraud message which has been circulating on social media about their online banking system.

In response to their customer community, Centenary Bank noted that their system is very secure, safe and not tampered with. They again warned that all online transactions should be done from their official website and all information on digital transactions should be verified with what is on their website or social media pages.

Here the notice reads;

Dear Customer,

Following the message that has been going around on social media about the Bank’s online System, this is to inform you that our system is secure and has not been tampered with. We continue to be vigilant for we value the safety of your funds and relationship with “Our Bank “.

Please note that all online transactions should be done from our website and all information on digital should be verified with what is on our website or social media pages.

You are further reminded not to share your PIN or Passwords with anyone.

In case of any further inquiries reach us on toll-free 0800200555/ 0800335344 or on 0414 667136/0414 672385 or on email



” But it’s like your system was compromised…. there is no smoke without fire…. even if it was compromised u can’t accept or publish it i believe u no what it means to s bank like you. “Aiden Aiden responded to the Bank.

In the financial banking world today, the security risks and fraud are common threats to both the customers and the banks. Mostly, the common threats are so driven by the power of internet and advanced computing technology. This is why banks must be keen on any new online services they introduce for their customer community. Banks must heavily invest in security as one way to ensure their clients find no uninformed accounts balance alterations.

Many Ugandan banks to mention Centenary Bank itself have fallen victims of financial fraud right from ATM machines, core banking systems infiltration, online services compromise and a lot more.

It is therefore, a major priority that banks should regularly revise their all-around security measures to avoid financial loss and strengthen the customer trust.

In the writer’s opinion, banks must endeavour to train and or sensitive their customer community base about all the financial services offered in a very reliable manner. Banks have not cared to offer enough financial education to their clients but they keep on introducing new online based services — we should accept that internet is good but it has a high risk on the financial aspect most especially when you customer based is highly occupied by rulal based clients. This means your serving a less informed audience.

Customers need to know the DOs and Don’ts of any given service and when it is appropriate to use such a service.

Finally, as bank customer you should regularly check your balance and or acquire a bank account statement to track a record of your transactions. It is a common problem that accounts normally lose money without your notice.

#StayHome #StaySafe

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