Financial Intelligence Authority Participates in the Launch of the Financial Sector Anti-Fraud Consortium (AFC)

On April 23, 2025, the Financial Intelligence Authority (FIA) proudly joined forces with key stakeholders in Uganda's financial sector to launch the Financial Sector Anti-Fraud Consortium (AFC). This strategic alliance aims to combat financial fraud through enhanced industry collaboration, coordination, and consistency.

A Unified Approach to Combating Financial Fraud

The AFC brings together regulators, supervised financial institutions, payment service providers, law enforcement agencies, and industry associations. This collective effort is designed to more effectively anticipate, detect, prevent, and respond to financial fraud. By fostering a unified front, the AFC seeks to safeguard the integrity of Uganda's financial system.>

FIA's Role in the Consortium

As a key participant, the FIA will host the Anti-Fraud Reporting Portal, serving as a centralised hub for reporting and analysing fraud incidents. This portal will facilitate timely information sharing among consortium members, enabling swift action against fraudulent activities.

Leadership and Vision

Dr. Tumubweinee Twinemanzi, Executive Director of National Payment Systems at the Bank of Uganda, has been appointed as the Chairman of the AFC. His leadership underscores the consortium's commitment to a proactive and cohesive approach in tackling financial fraud.

Core Objectives of the AFC

The consortium focuses on several key areas:

• Information Sharing: Establishing mechanisms for timely and secure exchange of fraud-related data among stakeholders.
• Capacity Building: Enhancing the skills and resources of law enforcement and judicial officers to effectively handle financial fraud cases.
• Public Awareness: Implementing campaigns to educate the public on recognising and preventing fraud.
• Legal Reforms: Advocating for amendments to existing laws to strengthen the legal framework against financial fraud.

The launch of the AFC marks a significant step towards a more secure financial environment in Uganda. The FIA urges all stakeholders to actively participate in this initiative, reinforcing our collective commitment to combating financial fraud.

Together, we can build a resilient financial system free from fraud.