Search Results for: Fraud
-
CYBER SECURITY
Fraudsters Leverage New Business Model to Expand Cryptocurrency Fraud
Sophos has revealed how sha zhu pan scammers—those conducting elaborate, romance-based cryptocurrency fraud—are leveraging a business model similar to cybercrime…
Read More » -
News
Fraudulent schemes scammers run during Black Friday
As Black Friday approaches, Kaspersky has released a new report revealing the latest shopping-related cyber threats. The findings expose more…
Read More » -
News
Most consumers in Kenya likely to miss common fraud warning signs, Visa study
Despite being scam-savvy, a new study by Visa has revealed that most consumers in Kenya are likely to be at risk…
Read More » -
News
Smile ID H1 2023 Africa KYC Report Highlights Identity Fraud Trends and Verification Insights
Smile ID (formerly Smile Identity), the leading identity verification and digital Know Your Customer (KYC) provider in Africa, has unveiled…
Read More » -
News
Tips to Keep Your Money Safe in the Era of Growing Digital Fraud
The financial sector has undergone a significant transformation over the years, owing to the rapid technological advancements. Banking, in particular,…
Read More » -
BUSINESS
6 Banks sign up to Safaricom’s SIM-swap check anti-fraud solution
Safaricom has announced that it has signed up 6 banks to its SIM-Swap-Check Anti-fraud solution. The solution provides banks with…
Read More » -
News
Everyone has a role to play in financial fraud
For a long time now, financial service providers have sought to redefine the customer experience in the face of 21st-century technological…
Read More » -
News
Eight suspects arrested by DCI in KSh.500 million M-Pesa Fuliza fraud scheme
Detectives from the Directorate of Criminal Investigation (DCI) have arrested eight suspects in a high-profile fraud scheme where telecommunications firm…
Read More » -
News
[Kenya] Government drops fraud charges against Nigerian fintech Flutterwave
The Kenyan government has dropped charges of financial impropriety against Flutterwave Inc. This is according to a new report by…
Read More » -
News
Fraud attempts continue to rise in Africa, Smile Identity report reveals
A comprehensive report released by pan-African identity verification company Smile Identity has revealed that fraud rates across the continent hit…
Read More » -
COLUMNS
Chris Akolo: Why online fraud is high during festive seasons and how to prevent it
Kenyan consumers have expressed a strong desire to buy more discretionary products during the festive season while coming out of…
Read More » -
News
E-commerce fraud has recorded a 42% increase this festive season, report
A report by global information and consumer insights firm TransUnion has revealed that online shopping scams have increased by 42…
Read More » -
News
Asset Recovery Agency drops fraud charges against Nigerian fintech Kora
Kenya’s Asset Recovery Agency (ARA) has dropped fraud charges against Nigerian fintech Kora. The startup was in July accused of…
Read More » -
News
Online fraudsters using sophisticated software to access digital loans, JuicyScore
Cases of fraudsters illegally accessing digital loans from fintech platforms in Africa have been on the rise over the last…
Read More » -
News
Anti-fraud & Risk Management Firm JuicyScore appoints Chris Akolo Regional Business Development Director for Kenya
After announcing its entry into the Kenyan market recently, JuicyScore has now appointed Chris Akolo as its Regional Business Development…
Read More » -
Startups
Flutterwave CEO Embroiled in Bullying, Fraud Claims
A former employee of Nigerian-based payment solutions provider Flutterwave has levelled claims of bullying and fraud against company Founder and…
Read More » -
News
Suspected Digital Holiday Shopping Fraud From Kenya Decreases 16.5%, report
17.5% of all global e-commerce transactions – and 3.6% of Kenyan transactions – between November 25-29 were potentially fraudulent. This…
Read More » -
CYBER SECURITY
Cellulant Partners with Entersekt To Curb Digital Banking and Payment Fraud
Africa’s financial tech company Cellulant has partnered with Entersekt, a firm specializing in device identity and omnichannel authentication. The partnership…
Read More » -
CYBER SECURITY
Kenya Ranked Among the Top 3 African Countries Affected by Mobile Fraud
Kenya has been ranked among the top three African countries hit by mobile fraud. According to Evina, a Paris-based cybersecurity…
Read More » -
BUSINESS
Fraud in the banking industry: What are banks doing about it?
Chances are you have at least received a call once or twice from people claiming to be representatives from your…
Read More » -
BUSINESS
Safaricom ups the game against fraud
Safaricom has today unveiled its new plans for tackling fraud activities on its platforms. Kenya’s largest telco reported that through…
Read More » -
News
Fake mobile applications exposing Kenyans to cyber fraud, CA Report
A proliferation of mobile applications on popular online stores is exposing Kenyans to increased cyber-attacks and fraud, the latest sector…
Read More » -
CYBER SECURITY
Creditinfo new solution to combat synthetic identity fraud for Kenyan mobile lending market
Creditinfo has launched a new Integrated anti-fraud solution to combat identity fraud for the Kenyan mobile lending market. According to…
Read More » -
News
More collaborative efforts required to fight mobile money fraud and cyber crime, says DPP
The Director of Public Prosecution Noordin Haji has called on all stakeholders in financial institutions and banking sector to work together to strengthen…
Read More » -
CYBER SECURITY
SIM swap fraud is now global threat, says Myriad Connect
SIM swap fraud has plagued mobile users across Africa for years, with Myriad Connect’s recent survey in Kenya revealing that…
Read More » -
BUSINESS
Safaricom’s new measures to curb SIM fraud
Over the last few months, Safaricom has been on the spot after a number of its subscribers complained about their…
Read More » -
BUSINESS
DCI George Kinoti says efforts to fight SIM swap fraud on course
The Director of Criminal Investigations George Kinoti has assured the public that the fight against Sim Swap fraud is on…
Read More » -
BUSINESS
PayPal is Blocking M-Pesa Linked Accounts Over Fraud
In April this year, Safaricom announced a new partnership with the online payment service and TransferTo to allow M-Pesa customers…
Read More » -
News
Myriad Connect Solutions launches in Kenya to combat mobile transaction fraud
Mobile technology solutions company Myriad Connect Solutions has launched in Kenya to combat digital transaction fraud. Unveiled yesterday, the company…
Read More » -
CYBER SECURITY
Banks globally still finding it hard to manage online financial fraud
Banks and payment organizations globally are still finding it difficult to manage online financial fraud in today’s connected and complex…
Read More » -
News
Jubilee Party launches Smart Card to eliminate fraud in member registration.
As smart cards become more and more globally prevalent, organizations and even governments are starting to discover a number…
Read More » -
BUSINESS
NetGuardians brings anti-fraud software solutions to Kenyan banks
Recent times have seen Kenyan banks being hit by several high profile fraud cases despite the Central Bank pledging tougher…
Read More » -
News
Rethinking Card Issuing in an Age of Fintech Disruption
Traditional banks face challenges in modernising card issuing to keep up with new competitors. Fintech disruptors and evolving consumer preferences…
Read More » -
BUSINESS
Forex Fortunes in Kenya: A Beginner’s Guide to Online Forex Trading
Online forex trading has gained significant popularity in Kenya in recent years. Given the potential for lucrative returns, a growing…
Read More » -
Featured
Understanding the Difference Between Legal Bookmakers and Non-Legal Ones: Navigating the Betting Landscape
In the realm of sports betting, there exists a distinction between legal bookmakers, operating within the bounds of regulatory frameworks,…
Read More » -
News
Xion Global and Callpay partner to boost web3 payment adoption in South Africa
Xion Global, a Web3 payments provider, has announced a strategic partnership with Callpay, a major player in South Africa’s payments industry.…
Read More » -
News
Fintech platform Alviere expands its reach to 500 million mobile wallets in Africa
Alviere, the embedded finance platform provider, has announced that Onafriq, Africa’s digital payments network, has chosen it to enable payments…
Read More » -
BUSINESS
M-Pesa Global pay to get a tap-to-pay payment option
Safaricom’s mobile money platform M-PESA will soon start offering tap-to-pay services to its more than 60 million customers. This is…
Read More » -
News
Sophos Anticipates AI-Based Attack Techniques and Prepares Detections
Sophos has released two reports about the use of AI in cybercrime. The first report—“The Dark Side of AI: Large-Scale…
Read More » -
CYBER SECURITY
Africa remains one of the regions most targeted by cybercrime in 2023
As organisations continue to become more digitised, throughout 2023 Africa remains one of the world regions most targeted by cybercrime.…
Read More » -
News
Equity Bank: Unlocking convenience and security in the digital banking era
The global landscape is undergoing a remarkable transformation towards digital banking, with an ever-growing number of customers embracing its offerings…
Read More » -
News
Unpacking Faulu Microfinance Bank Digital Solutions
Kenya’s banking sector has been evolving over the years, thanks to the emergence of technology, especially mobile phones that shifted…
Read More » -
News
Chenosis partners with Botlhale AI to bridge language gaps in African businesses
Pan-African Accelerator Platform Chenosis has partnered with Botlhale AI Solutions to remove language as a barrier when it comes to…
Read More » -
News
KRA unveils online auction after successful pilot
After successfully running a pilot which saw it collect Kshs 37.5 million, the Kenya Revenue Authority (KRA) on Monday unveiled…
Read More » -
CYBER SECURITY
Sha Zhu Pan Scammers Use Fake Cryptocurrency Trading Pools to Steal More Than $1 Million, Sophos report
Sophos has released findings on a major shā zhū pán (pig butchering) operation utilizing fake trading pools of cryptocurrency (liquidity…
Read More » -
BUSINESS
VFS Global offers tips for a smooth visa application experience
Based on the data available mid-year, there is convincing evidence that reveals global travel is on the rise in 2023,…
Read More » -
CYBER SECURITY
CryptoRom scammers add AI chat tool, like ChatGPT on crypto accounts to their toolset, Sophos finds
Sophos has released new findings on CryptoRom scams—a subset of pig butchering [shā zhū pán] schemes designed to trick users of dating apps into making fake…
Read More » -
CYBER SECURITY
Intensified scamming activities already surrounding Meta’s Threads app
Just one week after its launch on July 5, Threads, the new microblogging app from Meta, has already amassed an…
Read More » -
News
John Waibochi: Digitizing supply chains across Africa presents immense opportunities.
Manufacturers, producers, and businesses have received a clear message over the past few years: digitizing supply chain management is essential…
Read More » -
News
5 Kenyan startups among the 25 selected to receive $4M Google for Startups’ Black Founders Fund
Five Kenyan startups are among the twenty-five from across Africa that have been selected for this year’s $ 4 Google…
Read More » -
BUSINESS
Boost for SMEs as Pesapal Introduces Real-Time Settlement of Payments in Kenya
Pesapal has introduced real-time settlement for merchants in Kenya, enabling fast transfer of funds into their accounts. Through Pesapal’s e-wallet…
Read More » -
News
Digital payments firm DPO Pay announces new leadership appointments
African digital payments company DPO Pay has announced the appointment of Isabella Marira as Group Head of Operations. The firm…
Read More » -
CYBER SECURITY
Kenyans reported increased cases of vishing attempts in 2022, report
Kenyan consumers were primarily targeted by ‘vishing’ attempts, in 2022 where they received fraudulent phone calls from scammers trying to…
Read More » -
News
The Evolution of Online Gambling: The Role of Technology in Driving Industry Growth
Gone are the days of having to physically go to a casino or betting shop for your fix of gambling.…
Read More » -
News
Smile Identity acquires Inclusive Innovations in its Africa expansion drive
Pan-African cyber security company Smile Identity has announced the acquisition of Inclusive Innovations, the parent comp of Appruve, a company…
Read More » -
News
[Kenya] Authorities arrest suspects for illegal online streaming
The Kenya Copyright Board (KECOBO) together with officers from the Directorate of Criminal Investigations (DCI) arrested an engineer and his…
Read More » -
News
How to Choose the Right Online Casino Website for Beginners
Are you new to the exciting world of online casinos? Can’t decide which website is right for you? Don’t worry…
Read More » -
Featured
The Benefits of Using Cryptocurrency at Online Casinos
As the popularity of cryptocurrency continues to soar, people have become more and more interested in using it as a…
Read More » -
Featured
Choosing the Right Payment Method for Your Online Betting Needs
Online betting is on the rise, and with it comes an ever-increasing variety of payment methods that customers can use…
Read More » -
Blockchain
ALEX OWITI: Will Blockchain be the “Messiah” Cyber security Saviour?
Deloitte’s global blockchain and cyber security experts from around the globe in their 2017 report looked at blockchain technology security from…
Read More » -
News
Scammers move from dating apps to now targeting Twitter users
Scammers are no longer dominating dating apps but other social media platforms such as Twitter. This is according to a…
Read More » -
News
Pan-African cyber security firm Smile Identity raises $20m Series B
Smile Identity, a South African company that offers identity verification and Know Your Customer (KYC) services has raised $20 million…
Read More » -
CYBER SECURITY
Sophos Discovers Fake Apps Found on Apple’s App Store Used by Cybercriminals for CryptoRom Schemes
Sophos on Wednesday released new findings on CryptoRom scams—elaborate financial fraud schemes that prey on and trick dating app users…
Read More » -
News
Sendy introduces payment on delivery option for e-commerce vendors
Fulfillment and logistics startup Sendy has unveiled a Payment on Delivery product for e-commerce and social commerce vendors in Africa,…
Read More » -
News
[Interview] JuicyScore’s Mikhail Marchenko on why fintechs should invest in risk management solution
JuicyScore, a global leader in anti-fraud and risk management solutions entered the Kenyan market recently. The firm offers anti-fraud and…
Read More » -
News
MCK to add QR codes to new press cards to help identify quack journalists
The Media Council of Kenya (MCK) has announced plans to add barcodes and QR codes to press cards it issues…
Read More » -
News
Mikhail Marchenko: Major fintech trends that will affect online businesses in 2023
Digitalization and technological achievements, which have been observed in the African region for the past decade, have sped up the…
Read More » -
News
Safaricom achieved 93% customer SIM Card registration by the 15th October deadline
When the Communications Authority of Kenya (CA) sought to have all SIM Cards registered earlier this year, it was forced…
Read More » -
News
IDORENYIN OBONG: Five financial planning tips for African freelancers and gig workers
The global pandemic has accelerated the pace of change, causing significant disruption across labour markets and forever changing how we…
Read More » -
News
Evolution of the microfinance sector in Kenya: How Kenyan online businesses can thrive
According to a McKinsey report, African financial services are now undergoing a structural shift. About 10 percent of all transactions…
Read More » -
News
Leading Identity Verification Startup, Verified.Africa Launches in Kenya
Verified.Africa, a leading provider of ID verification, document verification, and digital KYC compliance solutions, has launched in Kenya. With this…
Read More » -
News
ANNALISA PLACHESI: Why NGOs should embrace the digitisation of payments and collections
Digital payments have fundamentally transformed lives across Africa by providing access to financial infrastructure and enabling innovation. More jobs have…
Read More » -
CYBER SECURITY
Criminals “Follow the Money” by Commercializing Cybercrime, Sophos report
A new Sophos today published its 2023 Threat Report has detailed how the cyberthreat landscape has reached a new level…
Read More » -
News
South Africans Must Up Their Game Against Cybercrime
South Africans are not performing well when it comes to cybercrime. We are ranked fifth out of 37 countries for…
Read More » -
News
Hackers stole $11 million from 12 African countries over a period of five years
Banks, financial services providers, and telecommunication companies from 12 African countries lost $11 million to hacking attacks between 2018 and…
Read More » -
News
Mastercard and Cellulant announce digital commerce payments partnership
Mastercard and Cellulant have partnered to allow Cellulant customers across Africa to shop and pay online with global merchants wherever…
Read More » -
News
Flutterwave Appoints Former JP Morgan Chase Executive as Senior Advisor
Nigerian money transfer company Flutterwave has appointed Marshall Lux as a senior advisor. Marshall is a former Chief Risk Officer…
Read More » -
News
Mastercard to bring crypto trading capabilities to banks
Mastercard has introduced a new program to enable financial institutions to bring secure crypto trading capabilities and services to their…
Read More » -
News
Users in Africa hit by new malicious WhatsApp mod
A new malicious version of a popular WhatsApp messenger mod dubbed YoWhatsApp is doing rounds targeting users in the META…
Read More » -
News
Microsoft to support continuous transformation of Africa’s Financial Services Industry
Transforming the Financial Services landscape in Africa will be a critical driver of economic prosperity across the continent, a banking…
Read More » -
News
Register your sim card before October 15th to avoid getting disconnected
At the beginning of the year, the Communications Authority (CA) reinforced its push to have mobile users register their sim…
Read More » -
News
Kenyan Court Freezes Another Sh400.6 Million Belonging to Flutterwave
Nigerian fintech Flutterwave is once again in the Kenyan courts for the wrong reasons. Early Tuesday, the High Court of…
Read More » -
News
Smile Identity says cases of identity theft in Africa have increased by 26% since last year
Pan-African provider of identity verification technologies Smile Identity has said that cases of identity theft have increased by 26% since…
Read More » -
BUSINESS
Equity Bank: Safeguarding Yourself and Your Bank Account
As the world continues to adopt digital banking be it on mobile or online, it is important that all of…
Read More » -
News
Flutterwave responds to accusations of operating without a license in Kenya
After reports emerged that Nigerian fintech startup Flutterwave was operating without a license in Kenya, the company has sent out…
Read More » -
News
CBK Governor Says Flutterwave is Not Licensed To Operate In Kenya
The Governor of the Central Bank Of Kenya (CBK), Dr Patrick Njoroge has said that fintech companies Flutterwave and Chipper…
Read More » -
News
Amazon to sue 10,000 Facebook groups over fake reviews on its platform
Ecommerce giant Amazon announced Monday that it has sued administrators of more than 10,000 Facebook groups for orchestrating fake reviews…
Read More » -
News
Nigerian fintech startup founders jailed in the United States for money laundering
Nigerian-born, US-based founders of a money-remittance fintech Ping Express have been handed a 27-month sentence in the United States after…
Read More » -
Startups
Kenyan Court Freezes Flutterwave’s Bank Accounts Over Money Laundering Allegations
Nigerian unicorn fintech Flutterwave has lately been in the news for both good and bad reasons, but the unflattering reasons…
Read More » -
News
12% of all website traffic originating from Twitter is made up of bots, Report
A report published by Israeli cybersecurity company CHEQ, on Monday, May 30 indicates that 12% of all traffic originating from…
Read More » -
News
This new feature will protect Safaricom customers from unauthorized sim swap
Over the last couple of weeks, there have been overwhelming reports of Kenyans getting their SIM cards illegally swapped, leading…
Read More » -
CYBER SECURITY
Sophos Lifts the Lid Off Liquidity Mining CryptoCrime
Cybersecurity leader Sophos has released threat research about nascent cybercrime. The research, which has been documented in the article “Liquidity Mining Scams…
Read More » -
News
How scammers subscribe mobile users to unwanted paid services
With an ever-growing number of smartphone users, the development of mobile applications has become a booming industry. Today there are…
Read More » -
News
Why are African Governments Asking you to Re-Register your Sim Card?
Until last week, The Communication Authority( CA), had maintained that the April 15th SIM card registration deadline will not be…
Read More » -
COLUMNS
Quentyn Taylor: 2022 and the evolving threat landscape
Ransomware is here to stay Cyber criminals are adapting every single day. In 2021, hackers realised the recipe for ransomware…
Read More » -
CYBER SECURITY
Program to train 2,000 Kenyan youths as cybersecurity experts launched
USIU-Africa, Kenya Bankers Association and Serianu have unveiled an industry-led training program to add 2,000 cyber security professionals in Kenya.…
Read More » -
News
Sophos releases insights into crypto scam targets dating app users on iPhone and Android
Sophos has released new insight into an international crypto trading scam called CryptoRom that targets iPhone and Android users through…
Read More » -
INSURANCE
YC-backed Curacel unveils new platform to enable tech companies offer insurance
Curacel, a YC-backed African insurance infrastructure startup, has launched an embedded insurance product that will enable tech companies to offer…
Read More » -
Startups
[African Startup Review] Pie Kamau: Nigerian fintech Flutterwave is now Africa’s highest valued Unicorn
As the African fintech space continues to bloom, so does the funding. Flutterwave, the San Francisco-headquartered and Lagos-based company that…
Read More » -
Startups
Canadian fintech startup Periculum launches in Nigeria to build credit assessment infrastructure for Africa
Canadian fintech startup and credit assessment company Periculum, has launched in Nigeria to tackle the challenge of domestic credit to…
Read More » -
News
4.8 million people in Kenya own cryptocurrency, report
Cryptocurrency adoption has been growing rapidly in Kenya over the past few years. In fact, the country is one of…
Read More »