Equity Bank Rwanda Halts Fraud Scheme; 35 People Detained
Equity Bank Rwanda Halts Fraud Scheme; 35 People Detained
Rwanda’s law enforcement authorities have detained 35 individuals suspected of involvement in a banking fraud scheme, following the detection of irregular transactions by Equity Bank Rwanda.
The bank announced that its internal monitoring systems identified unusual activity, prompting immediate security and incident-response actions in line with standard risk-management procedures.
“Prompt containment measures were carried out, with the bank coordinating closely with the appropriate authorities,” the institution stated.
Most of the transactions in question were reversed within 24 hours, and investigations are ongoing with the support of regulators, including the National Bank of Rwanda.
Equity Bank Rwanda emphasized that no customer deposits were affected and that normal banking operations continue uninterrupted. “Customer accounts and funds remain fully protected,” the bank reassured.
The lender also highlighted its ongoing commitment to combating financial crime, strengthening cybersecurity, and enhancing internal controls to protect clients’ assets.
Authorities continue to probe the matter to determine the full scope of the alleged fraud and whether additional individuals were involved.
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