Cryptocurrency fraud can happen anywhere, but for some reason, Uganda is struggling with the Cryptocurrency fraud problem. The people who carry out for the illegal tend to be from the Europe country and the United States. The individuals from the US and Europe are targeting on the investors who are not educated.
Uganda is the country of East Africa. It is facing a serious problem with the cryptocurrency frauds. Many emails from the individuals have reported that they are unable to control the accounts. But these issues are being ignored. An African country is having the problem the cryptocurrency fraud. Members of Parliament are asking the high authority members to safeguard the world of cryptocurrency. Even the Crime Intelligence department and the directors of the Cyber Crime Department and their investigations have requested the government of African to fight for the scams of the cryptocurrency companies and the persons who lost their cryptocurrency.
Few of the multi-level marketing companies have targeted the Uganda country people which include D9 Club, Emaar Ventures, First Coin, Questra world and One Coin. There is no satisfied law which can handle these types of frauds. Most of the people who are cheating are women and the youth. These issues need to stop by their country’s Government.
Most of the people who are cheating are women and the youth. These issues need to stop by their country’s Government. Persons who are responsible for the crime and the illegal activities need to be arrested the Government and should take severe action on them, said by the MP Mpaka Mwima.
There are two laws to deal for the cheating people. The one is the Computer Misuse Act, and the other law is the Penal Code Act. They are not sufficient to deal with the fraud cases.
The government and the authorities of the country Uganda can end the scams of Cryptocurrency. They even want to go farther by not getting any fraud cases in the future. They are working on a movement. Accordingly, “the MPs said they are working on a motion which they would present before parliament in the course of this week.