As such, the public should not be duped into dealing with unlicensed and unregulated financial institutions that are in many ways disguised schemes to defraud the community. Members of the public should heed warnings or advice coming from agencies like Bank of Uganda regarding operations of certain investment schemes or institutions.
In addition, the public should also take keen interest in physically inspecting the licenses of any institution that claims to be licensed by the Bank of Uganda or any other regulator. The licenses are supposed to be displayed in all the branches of these regulated institutions and whenever a customer is in doubt; they should inquire from the regulators.