Last year, as the Covid-19 pandemic ravaged the country, Kenya Commercial Bank (KCB) stopped a Sh2 billion attempted fraud on its banking system.
“In 2020, the Group successfully prevented a theft of Sh2 billion, in attempted fraud, thanks to our robust cybersecurity systems,” revealed KCB without giving much details.
The bank made the revelation through its sustainability report, which says it prevented 3,624 other cyberattacks and managed to stop 663 attempted fraud cases.
Increased use of mobile and Internet banking have exposed bank customers to cybercrime, especially fraud and phishing attacks.
In 2019, The Directorate of Criminal Investigations (DCI) published posters with the faces and names of 130 suspects wanted for hacking into bank accounts in Kenya.
It is hard to quantify how much has been lost to online hacking with banks not readily giving the information but according to the police, there are hundreds of cases and billions of shillings lost in the last year alone.
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