Col. Nakalema Joins Forces With Anti-Fraud Experts To Strengthen Uganda’s Financial Security

Col. Nakalema Joins Forces With Anti-Fraud Experts To Strengthen Uganda’s Financial Security

Posted on 14 November 2024 0
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By Spy Uganda

The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has today met and held discussions with officials from the Association of Certified Fraud Examiners (ACFE)- Uganda Chapter.

During a meeting held at SHIPU offices in Kampala, Col. Nakalema thanked the association members for their efforts in helping to protect the financial resources of Uganda.

“At the State House Investors Protection Unit our main role is to collaboratively coordinate with all stakeholders to add value to the development of our country. Your special skills in this digitalised world are very much welcomed,” she said.

Col. Nakalema further noted that at SHIPU, they believe that the services of ACFE are going to help them to ensure that fraudsters are eliminated.

“Your area is the most needed in the world we are in. We need protection from you and thank you again for reaching out to us. In government we need fraud examiners to protect resources of ministries and agencies. You are the best security officers in the line of protecting resources.”

The SHIPU head further pledged work with ACFE to ensure that fraudsters are brought to book.

“You are our great partners and when I start a relationship I continue with it. We look forward to continuing interacting with you to ensure a thriving investment climate.”

She also rallied the officials to open up all their skills to help the country fight and put an end on corruption.

On the other hand, Col. Nakalema also informed the officials that SHIPU gives an opportunity to investors to do due diligence so that they do not fall in the wrong hands of fraudsters.

“That’s why we now have a platform called Uganda Electronic Investors Protection Unit to empower investors to get authentic information, inquire, verify and receive feedback,” she said.

The ACFE President, Mr. George Turyamureba Mugabi said the association is an international, professional organisation dedicated to fighting fraud and white-collar crime.

“With offices in North America, Europe and Japan and chapters around the globe – the Association is networked to respond to the needs of anti-fraud professionals everywhere. Our Members support our mission of reducing the incidence of fraud and white-collar crime through prevention and education,” he said.

Mr. Turyamureba added that the Ugandan Chapter of ACFE started in 2009 and it currently has 198 members majority of whom are from Uganda Revenue Authority (URA), Inspectorate of Government, Auditor General’s Office and banks.

“We do training, collaboration, technical guidance and networks. In short, we are financial forensics experts. If you have any problems with finances like fraud, we investigate it,” he said.

“Majority of the investigators in Uganda are not well versed with the procedures, that is why sometimes cases are thrown out of court due to lack of evidence and the offenders are left to walk scott-free,” Mr. Turyamureba added.

He further called for collaboration with government agencies like the SHIPU to fight fraud in Uganda.

“We want the government entities to work with us to fight financial fraud. For us we give information and the rest you will be able to implement,” Mr. Turyamureba noted; “If we work together, we shall be able to reduce or end corruption and fraud.”

He also praised Col. Nakalema for being a transparent and dedicated public servant with a strong stance against corruption.

The ACFE Vice President, Mr. Mwanja Innocent informed Col. Nakalema that next week they will be commemorating the International Fraud Awareness Week, with an aim of joining the global efforts to minimise the impact of fraud by promoting anti-fraud awareness and education.

Mr. Kizza Henry, the Board Treasurer also encouraged investigators to shift away from analog and embrace advanced technologies like Artificial Intelligence in order to be able to deal with cyber- enabled fraud.

“They should equip themselves with skills to curb cyber-enabled fraud. We encourage members to be on top of the game,” he said.

Ms. Grace Kilotich, an associate Member of ACFE said fraud exists and Ugandans should ensure that they are able to protect themselves from it. “As an economy we lose so much due to fraud. We should pick interest and learn more about fraud.”

The meeting was also attended by the former Attorney General, Hon. Fred Ruhindi.

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