Centenary Bank loses Shs3b in internal fraud
Wednesday April 21 2021
Centenary Bank branch on Kampala Road. The bank, like several other financial institutions in Uganda, has been grappling with workers who are stealing money from customers and the bank. PHOTO/ FILE.
Summary
Centenary Rural Development Bank Ltd is a financial services provider in Uganda that is engaged in commercial banking. It is the third largest bank after Stanbic and dfcu banks.
According to the Annual Crime and Traffic Safety report 2020, Uganda lost money or property valued at Shs11.5t just only in economic crimes, translating into Shs32b being stolen every day last year.
Staffers made false entries into bank’s account book without actual monetary transaction
Rajkot: Two employees of Gujarat State Co-Operative Agriculture and Rural Development Bank Ltd (Kheti Bank) were booked after the bank discovered that the duo had siphoned off Rs 2.04 crore bank’s money in the past few years. According to Jamnagar police, a complaint in this regard was lodged by bank’s manager (Jamnagar unit) Viramji Thakore against the two employees, Deepakram Bhatt and Sahendrasinh Zala.
Cops registered an offence and booked them under various sections of Indian Penal Code including 406 (criminal breach of trust), 408 (criminal breach of trust by clerk or servant), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 465 (forgery) and 466 (forgery of record of Court or of public register) among others.
Probing allegations of ‘ghost loans’, swindling of subsidies at Co-op bank: J&K ACB to HC
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Synopsis
The ACB has apprised the high court that it initiated an “open verification” in December 2019 on a slew of allegations against the general manager.
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New Delhi: The Anti-Corruption Bureau (ACB) of Jammu and Kashmir has informed the J&K High Court that it was probing allegations of “ghost loans” and swindling of subsidies by the general manager of J&K Cooperative Agriculture and Rural Development Bank Ltd.
In a report furnished to the high court last week, the ACB stated that besides the general manager, some officials of the revenue department of the Rajouri district and their “close associates” were also under the scanner.