While many welcome the move as a step towards curbing cybercrime, experts warn of potential challenges with identity verification.
The Bank of Uganda’s recent directive that requires mobile money agents to verify a customer’s identity with a valid National Identity Card for withdrawals exceeding one million shillings has received mixed reactions.
While many welcome the move as a step towards curbing cybercrime, experts warn of potential challenges with identity verification.
The central bank’s new regulations, which take immediate effect, mandate that all customers making transactions above one million shillings present valid National Identity Cards to mobile money agents during these transactions.