Six Ugandan nationals have been arrested in connection with a suspected cross-border cyber fraud scheme targeting Equity Bank Rwanda, authorities have confirmed.
The suspects are expected to appear in court on March 23, 2026, according to reports by CEO East African Magazine, citing Uganda Police charge sheets. Investigators allege that the group illegally accessed and manipulated the bank’s systems to facilitate unauthorized transactions.
The operation is believed to have taken place between February 14 and 18, 2026, with additional accomplices still at large. The suspects are reported to have operated across multiple locations, including Kigali and Kampala, highlighting the cross-border nature of the scheme.
On March 15, Equity Bank Rwanda confirmed that it had detected suspicious transaction activity within its systems, triggering immediate security interventions. The bank said its monitoring systems identified unusual transfers, prompting swift response protocols in line with its risk management procedures.
The lender added that rapid action, in coordination with relevant authorities, enabled the recovery of a substantial portion of the affected funds within 24 hours.
Equity Bank Rwanda reassured customers that the incident did not affect their accounts or deposits, emphasizing that all funds remain secure and operations continue as normal.
The case underscores growing cybercrime risks in East Africa’s fast-expanding digital financial sector. Analysts note that while digitalisation has improved access to banking services, it has also increased exposure to sophisticated fraud schemes, including system breaches, online scams, and insider collusion.
