The Deposit Protection Fund of Uganda (DPF) has raised the red flag over the increasing cases of unscrupulous individuals and online investment companies making false claims of partnership with the Fund.
In a statement, Julia Claire Oyet, the Fund’s Chief Executive Officer makes specific reference to Green Monday Invest and Onpassive which have purported that their clients’ deposits are protected by the Fund.
She has thus cautioned the public against dealing with such companies, advising them to report fraudulent individuals or companies to the nearest police station for appropriate action.
Oyet adds that the two mentioned cases are being investigated.
“The cases have been brought to the attention of the relevant government agencies for further management”, said Ms. Oyet in a statement.
The DPF is mandated to provide protection of up to a limit of Shs10 million to customers of deposit-taking institutions licenced and regulated by the Bank of Uganda.
