by Fred Muwema The recent story about the URA seizure of counterfeit currency notes worth Ushs.189M at the Busia Border on the 22 nd /10/17 was significant in many ways. First it gave a clear indication that there is demand for counterfeit money in Uganda which explains why the culprits could risk importing it. Second, the demand for counterfeit money is channeled through the uncontrolled growth of mobile money transaction whose value is now in excess of Ushs. 15 trillion (approx. $ 4Bn). Despite its strong economic attributes which includes the promotion of financial inclusion ,the mobile money platform in Uganda today provides the weakest link in our financial system .It provides the easiest entry point for fake money and I have no doubt that the impounded counterfeit...
General law : a law that is unrestricted as to time, is applicable throughout the entire territory subject to the power of the legislature that enacted it, and applies to all persons in the same class —called also general act, general statute