By Kiyimba Bruno
The director legal for the Anti Counterfeit Network (ACN) Mr. Fed Mwema has urged banks to join the fight against counterfeits in the country.
Speaking this, Mwema was giving his opening remarks in the ACN dialogue against counterfeit that took place at protea hotel in Kampala
“I wonder why in financial sector risk assessment is not acknowledged as a risk.” Mwema asked
He went ahead to explain that from the billions of money that are given out to in the name of helping the community, the beneficiaries are the drivers of counterfeit in the country.
It is on this note that Mwema advised banks to take part in training on awareness of the public on counterfeit.
Mwema gave an example that 505 of the anti malaria drugs ,80% of ladies cosmetics and 95% of the accidents that happen in Uganda are all products of counterfeit due to the fact that in one way or another, banks are involved at one moment.
“When you analyze the accidents that are happening in the country, either the driver had a fake driving permit of fake wires and so many others” Said Mwema
On the same dialogue, Esther Aikiriza from the Financial Intelligence Authority advised banks to enhance transparency and access to information as well as documentation of all query reports.
She added that building private sector capacity to comply with cross boarder procedures will help since there are many public officials who are supposed to do public work and what is witnessed according to Aikiriza, private people are the ones doing the work.
She explains that if right people do the right work, then people will not fall victims of counterfeit even if it was in the banks
The ACN is one organization that came out to fight against fake products not only in Uganda but also along the globe.