UMRA probes 800+ online loan fraud cases, Busoga most affected
The Uganda Microfinance Regulatory Authority says it is investigating reports involving over 800 cases of online loan apps. According to Edith Namugga Tusubira, ED of the Uganda Microfinance Regulatory Authority, these cases reflect extremely high interest rates and fraud. The probe indicates that the majority of victims of this level of fraud are from the Busoga subregion.
