Search Results for: Fraud
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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…
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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…
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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…
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Opinions & Guest Posts
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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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,…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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Opinions & Guest Posts
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…
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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.…
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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…
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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…
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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…
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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…
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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…
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Opinions & Guest Posts
LAURENT SARR: Why Digital Identities Are The New Frontier
Whenever a user, or consumer, creates a profile or account on any online platform, they must have a unique way…
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CYBER SECURITY
Cybersecurity Myths You Might Still Believe – Debunked!
Over time, the state of cybersecurity evolves. New threats emerge, but so do new security technologies. As encryption has become…
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INSURANCE
MFS, Heritage Insurance launch digital insurance platform with motor insurance installment plan
Kenyan fintech firm Mobile Financial Solutions (MFS) Technologies has launched a digital insurance booking platform to meet the growing demand…
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CLOUD
[Africa Cloud Review] Simon Ngunjiri: Cloud can help financial institutions improve customer experiences
The financial sector is one of those sectors that is benefiting massively from modern technologies like the cloud. The adoption…
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News
Upstream, MTN and WASPA team up to protect South Africa’s mobile ecosystem from misleading ads and malicious apps
Leading mobile marketing tech firm Upstream and mobile operator MTN have ramped up their fight against mobile-based fraud. The two…
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CLOUD
Microsoft supports Kenya’s financial services providers with tailored Cloud solutions
Microsoft has reaffirmed its commitment to assisting Kenyan financial services providers in their digital transformation by providing specialized Cloud solutions.…
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Interviews
[Interview] Alioune CISS, CEO, Webb Fontaine: We’re Helping African Countries Emerge as Leaders in the Future of Trade
Alioune CISS is the Chief Executive Officer at Webb Fontaine, a leading provider of solutions for Trade facilitation, powered by modern technology including…
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BUSINESS
Payment solutions provider Virtual Pay receives ISO 27001 certification
Virtual Pay, a leading payment solutions provider has been awarded the prestigious ISO 27001:2013 certification receiving accreditation for its Information…
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News
High Court blocks trial of top Telkom Kenya bosses over city land suit
The High Court has stopped the planned prosecution of senior Telkom Kenya officials over the sale of a disputed piece…
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CYBER SECURITY
More Kenyans were attacked with password stealers in 2021, Kaspersky
There were 16% more users attacked with password stealers in Kenya between January and September 2021 compared to the same…
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News
Sophos Research Reveals Top Ways Cyberscammers and Malware Operators Abuse Google Forms
Sophos has published a new research, “Phishing and Malware Actors Abuse Google Forms for Credentials, Data Exfiltration,” describing how cyber…
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News
GVG announces seamless payments interoperability solution for Governments
Leading regulatory technology developer and Big Data Analytics firm Global Voice Group (GVG) on Wednesday launched a new payment interoperability…
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News
We did not suspend driver in viral assault video, Bolt Kenya says
Ride-Hailing app Bolt Kenya has dismissed claims that it suspended the driver whose video of him being assaulted by three…
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News
78% of SMEs in region’s retail sector are optimistic about the next 12 months, Mastercard
Although different sectors were exposed to and impacted in diverging ways to the extensive changes of the COVID-19 pandemic, SMEs…
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CYBER SECURITY
Kaspersky uncovers a malicious code spreading through a mod in WhatsApp
Kaspersky has discovered a malicious version of a popular WhatsApp messenger mod (unofficial modification of the app) called FMWhatsapp. This…
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News
African-focused Payments Firm pawaPay Raises $9M Seed Funding
African-focused payments firm pawaPay has raised a $9m Seed funding led by UK-based investment fund 88mph. Vunani Capital, Kepple Ventures,…
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News
Raccoon stealer uses Telegram, adds cryptomining and cryptocurrency theft, Sophos Report
A new report by security leader Sophos has revealed a raccoon stealer disguised as pirated software that grabs cryptocurrencies and…
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CLOUD
Caroline Mukiira : Hybrid Cloud – The Catalyst for Increased Financial Inclusion in Africa
Africa has made huge strides over the past decades towards the financial inclusion. The digitization and simplification of money management…
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News
Cyberattacks in Africa comparable to other parts of the globe, says Kaspersky
With digital transformation a top priority on the corporate agenda as companies identify new ways to grow their business, cyber…
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News
Our database has never been hacked, says IEBC
Kenya’s electoral body the Independent Electoral and Boundaries Commission (IEBC) has dismissed claims that its database had been hacked. Reports…
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News
Truecaller Rolls Out its Smart SMS Feature in Africa
Truecaller, the popular Caller ID and Spam Blocking app is rolling out a new Smart SMS feature for users across…
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News
Kenya among top drivers of eCommerce volumes in Sub-Saharan Africa, Visa research
Kenya, South Africa, and Nigeria are the top drivers of eCommerce volumes in Sub-Saharan Africa. This is according to a…
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BUSINESS
Enhanced Report Gives Kenyan Lenders Ability to Improve Consumer Risk Decisions
The Covid-19 pandemic has put Kenya’s financial institutions, including commercial banks, at the heart of a fast-changing crisis. The reason…
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News
South African fintech startup Ukheshe expanding to Asia-Pacific
South African fintech startup Ukheshe Technologies has announced that it will be expanding its footprint into the Asia-Pacific region as it introduces…
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News
Sophos Uncovers 167 Fake Android and iOS Trading and Cryptocurrency Apps
Sophos has identified a stash of 167 fake Android and iOS apps that attackers are using to steal money from…
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News
Applications for the HiiL Justice Accelerator to close on 30th April
Southern African justice startups looking for the opportunity to take their business to new heights have until 30 April 2021…
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Blockchain
Nigerian Regulator Issues Warning Against Cryptocurrency Investments
Nigeria’s Economic and Financial Crimes Commission (EFCC) has issued a warning to the country’s citizens over cryptocurrency investments. The warning…
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News
Nigeria Suffers Mobile Malware Epidemic with 1 In 9 Android Phones Now Infected
Mobile users in Nigeria have been impacted by mobile malware during the COVID-19 pandemic. This is according to a new…
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BUSINESS
Mastercard to buy digital ID verification firm for $850 million
Mastercard Inc will purchase a Seattle-headquartered digital identity verification company Ekata, in a deal valued at $850 million. The global…
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Apps
Truecaller Intros Business Solution in Africa As It Hits 43 Million Users on the Continent
Truecaller, the popular Caller ID and Spam Blocking app has launched a new business-focused solution to help its users easily…
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Opinions & Guest Posts
[Column] James Claude: Digital identity key in accelerating socio-economic development
As the global digital economy expands, and with Covid-19 changing the way we conduct business, Digital Identity is becoming increasingly…
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Blockchain
Banks in Nigeria Start Closing Accounts Used for Crypto Transactions
Following a circular from the Central Bank of Nigeria last week, warning financial institutions of engaging with crypto, banks have…
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Blockchain
Nigeria bans banks from dealing with cryptocurrencies
The Central Bank of Nigeria (CBN) shocked the local cryptocurrencies community on Friday when it issued a regulatory warning to…
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Social Media
Twitter and Facebook Suspend US President Donald Trump’s Account
Following last night’s events, Twitter has taken bold moves suspending US President Donald Trump ‘s account over “repeated and severe…
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CYBER SECURITY
Cybersecurity Threats Surge in Kenya
2020 was a tough year for many companies both financially and on the cybersecurity landscape. Various firms issued advisories of…
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News
DPO Group introduces Real-Time Settlements on digital payments for sole trader merchants in Kenya
African payment service provider DPO Group has launched Real-Time Settlements for its SME sole proprietor merchants in Kenya. 86% of SMEs…
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Apps
Twitter Adds Support for Hardware Key-based Two-factor Authentication on Android and iOS
Twitter has added a new form of multi-factor authentication allowing security folks to use hardware-backed 2FA on Android and iOS,…
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