Search Results for: Fraud
-
BUSINESS
From OTP Bypass to Crypto Cash-Out: How the Kenyan Bank IT System Fraud Unfolded Without Detection
It reads like a cybercrime thriller — but for one unnamed Kenyan bank, it was a costly reality. In a…
Read More » -
BUSINESS
How Digital Procurement Fraud in Kenya Is Letting Ghost Firms and Proxies Loot Billions Through County Tenders
When Kenya began transitioning to a centralized digital procurement system, it promised real-time oversight, vendor verification, and tighter anti-fraud controls.…
Read More » -
CYBER SECURITY
Kenya’s Digital Trust Crisis: How Criminals Are Weaponising WhatsApp to Defraud M-Pesa Users
Kenya is rightly celebrated as a global leader in mobile money innovation. But with innovation comes vulnerability, especially when the…
Read More » -
News
SIM Swap Fraud in Kenya: What Telecom Providers and Regulators Are Doing to Fight It
As mobile phone usage grows, as witnessed by the number of active mobile subscriptions in Kenya, now posited at over…
Read More » -
News
71% of Kenyan Consumers Experience Digital Fraud
Digital payments firm Visa has released a new study outlining consumer awareness and proactive security measures for digital payments. According…
Read More » -
News
Stay One Step Ahead of Fraud: Protect Your Finances This Festive Season
The festive season is here, bringing joy, celebrations, and increased financial activity. However, it also attracts heightened risks of fraud…
Read More » -
News
Preventing Ad Fraud with the Help of IP APIs
Ad fraud has become a major challenge for digital advertisers, siphoning off billions in wasted ad spend each year. Fraudulent…
Read More » -
Startups
Orca Fraud raises $550k to fight fraud in emerging markets
Orca, a South African startup that works with banks and fintechs in emerging markets to fight various types of fraud,…
Read More » -
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
Mobile Money Savings Growth in Africa Marks a Turning Point in Sub-Saharan Finance — Here’s Why It Matters for the Future
Sub-Saharan Africa has become the epicenter of mobile money—and now, it’s starting to change something even more fundamental than how…
Read More » -
News
The Changing Dynamics of Forex and Trading in Africa
The forex and online trading landscape has witnessed a significant growth in Africa in recent years, mainly driven by technological…
Read More » -
News
With Cyber Attacks Rising, Kenya’s New Insurance Rules Put Pressure on Insurers’ Boards
Kenya’s insurance industry is now under stricter cybersecurity oversight after the Insurance Regulatory Authority (IRA) introduced a sweeping framework that…
Read More » -
BUSINESS
Equity Bank Confirms Intermittent Downtime on its Digital Banking Channels
Equity Bank has issued a public notice confirming an ongoing service disruption affecting its digital banking platforms. The bank described…
Read More » -
BUSINESS
Kenya Money Laundering Crackdown Triggers Global Risk Alarm as Fintech, Trade Face Fallout
Kenya is facing unprecedented scrutiny over a massive surge in suspicious financial activity, with Sh6.97 trillion flagged in just three…
Read More » -
BUSINESS
How AI Credit Risk Scoring in Kenya Is Changing Who Gets Loans and How Fast
AI credit risk scoring in Kenya is fast becoming the leading application of artificial intelligence in the country’s banking sector,…
Read More » -
Featured
Spotika Relaunches with Thai Billionaire Backing, Unveils Africa’s Most Advanced Betting Tech
Spotika, a well-known name in Kenya’s betting sector, has officially relaunched under new ownership following a complete acquisition and strategic…
Read More » -
Featured
Game On! Spotika Unleashes Africa’s Smartest Betting Platform
One of Kenya’s most high-profile sports betting brands, Spotika, is back in operation and this time with a vengeance, since…
Read More » -
COLUMNS
Vinay Hirallal: From Vulnerable to Vigilant – Embedding Threat Resilience to Your Organization
With the continent’s rapid digital transformation, African businesses are being exposed to increasingly complex cyber threats. As their digital footprint…
Read More » -
Tech
Kenya’s Shamba Records, Apexloads Among Startups Picked for Google for Startups Accelerator
Google has selected 15 promising tech startups for its Google for Startups Accelerator: Africa Class 9 program. These innovative startups,…
Read More » -
News
Cybercrime in Africa Escalates as AI Scams, Phishing, and Deepfakes Undermine Digital Progress
As Africa races to embrace digital technology, a shadow is growing alongside it—cybercrime. From mobile banking fraud to deepfake scams,…
Read More » -
News
From Cash to Digital: Understanding PalmPay Growth in Nigeria’s Fintech Scene
PalmPay’s growth in Nigeria is a beacon that showcases the phenomenal extent to which fintech has made an impact on…
Read More » -
News
Nigeria’s Digital Payments in 2025: What’s Fueling the ₦1.56 Quadrillion Fintech Shift?
Digital payments in Nigeria exponentially increased last year to set a key trend in Africa’s largest economy in 2025. As…
Read More » -
CYBER SECURITY
This Cybersecurity Startup Is Quietly Moderating X’s Community Notes to Fight Crypto Scams
Social media platforms are struggling in the face of rising misinformation and scams, particularly involving cryptocurrency. In its bid to…
Read More » -
News
Secure Banking; How to Avoid Losing Money in Fake Online Security Checks
While digital banking offers significant convenience, it also brings a growing challenge from sophisticated fraud. One of the latest scams…
Read More » -
News
Phyllis Migwi: Three AI scams Kenyans need to watch out for in 2025
Kenya is rapidly emerging as a digital powerhouse in Africa, with internet and mobile phone usage consistently on the rise.…
Read More » -
News
Is M-Pesa 2.0 Upgrade Enough to Keep Airtel Money at Bay? Here’s What Safaricom’s $309M Bet Means
Making its boldest move with M-Pesa 2.0 upgrade, Safaricom, however, is investing over $309 million annually to transform the mobile…
Read More » -
News
Airtel Kenya Rolls Out AI-Powered Spam Alert Service
Airtel Kenya on Wednesday launched an artificial intelligence (AI)- powered Spam Alert Service to enhance mobile security for its customers. The…
Read More » -
News
Why Hacking Remains the Top Cybersecurity Threat
In the fast-growing digital world, our reliance on technology has become inescapable, with individuals communicating online via social media to…
Read More » -
News
Ex-citi, Goldman, Barclays Compliance Firm Hits $1M in First Year, Expands to EMEA
de Risk Partners, a financial regulatory compliance consultancy founded by former executives from Citigroup, Barclays, and Goldman Sachs is celebrating…
Read More » -
News
The Silent Surge: How Scam Call Centers Are Taking Root in Africa
For many decades, cybercrime in Africa-with the exception of some few ironic exceptions, was usually painted in a comic style…
Read More » -
News
Atlas Cloud Taps IBM Watsonx to Boost AI Innovation in Morocco
Atlas Cloud Services (ACS), a subsidiary of Mohammed VI Polytechnic University (UM6P), has announced a collaboration with IBM and its…
Read More » -
TRENDING
[Column] Mohamed Sajeed: How IoT and Automation Transforms Business Imaging
The convergence of Internet of Things [IoT] and automation is reshaping industries, and Epson is at the forefront of this…
Read More » -
News
AI – A Double-Edged Sword in the Age of Misinformation and Disinformation
The rapid expansion of artificial intelligence (AI) tools has ushered in a new era of innovation, transforming industries and reshaping…
Read More » -
News
How Mobile Apps are Streamlining Online Trading
Online trading in Africa has continued to experience massive growth over the last couple of years. This growth can largely…
Read More » -
News
How Technology is Revolutionizing and Unifying Africa’s Forex Markets
Forex markets in Africa have historically been fragmented, with things like varying regulations, currency fluctuations, and limited accessibility affecting seamless…
Read More » -
News
Visa Picks New Country Manager for Kenya, South Sudan and Somalia
Visa has appointed John Njoroge as its new Country Manager and Senior Business Development Leader for Kenya, South Sudan, and…
Read More » -
News
Stablecoin Regulation in Kenya: How New Rules Could Reshape Digital Finance
The global push for stablecoin regulation is reshaping financial landscapes, and Kenya is no exception. As discussions around stablecoin regulation…
Read More » -
News
97% of Consumers Take Cautionary Measures Around Digital Payments, Visa Study
Digital payments firm Visa has published a new study that sheds light on consumer awareness and proactive security measures taken…
Read More » -
News
Kenya AI Strategy 2025-2030 Unveiled: A Bold Move Toward AI-Powered Digital Transformation
Kenya has officially unveiled the Kenya AI Strategy 2025-2030, positioning itself as a possible African leader in artificial intelligence innovation.…
Read More » -
CYBER SECURITY
Foreign Cyber Threats in Kenya: National Strategies for Digital Defense
Cyber threats have become a national security challenge as Kenya is rapidly digitizing. Its digital assets, from financial institutions to…
Read More » -
News
Binance Champions Crypto Regulation Clarity and Cyber Security at Nairobi Event
As Africa’s digital economy expands, policymakers across the continent are stepping up efforts to regulate the rapidly growing Web3 space,…
Read More » -
News
Why a U.S. Law Change Could Disrupt the Global Internet
For close to thirty years, section 230 of the Communications Decency Act has offered websites immunity from legal responsibility for…
Read More » -
News
Telegram Surpasses 1 Billion Users With $547M Profit—How It Stacks Against WhatsApp
Telegram has surpassed 1 billion active users, according to the message posted on the founder Pavel Durov’s channel. Telegram also…
Read More » -
News
How Digital Payments Are Promoting a Cashless Economy in Africa
Digital payments are playing a very important role in changing Africa’s economy by promoting financial inclusion and minimizing dependency on…
Read More » -
News
Memecoins in Africa: Regulation, Risks, and Recent Policy Shifts
Meme coins have gained big across the continent but recently have had many homegrown tokens sprouting in Africa. Such meme…
Read More » -
BUSINESS
Visa Study Highlights Need for Strengthened Security to Boost Digital Payments Among SMEs in Kenya
A recent report by digital payments leader Visa has shed light on the security concerns faced by small and medium-sized…
Read More » -
News
Over Half of Africans Fear Financial Losses From Cybercrime, Survey Finds
According to a recent survey conducted by KnowBe4 AFRICA, 58% of respondents are very concerned about cybercrime, a figure which…
Read More » -
News
Africa Tech Summit Awards 2025 Winners Announced
Africa Tech Summit Awards announced the 2025 winners, recognising the leading entrepreneurs and ventures shaping the tech industry across the…
Read More » -
Apps
Bolt Driver Selfie Check Boosts Ride Safety with AI
As ride-hailing services focus more on safety and security, Bolt’s Driver Selfie Check stands out as an important feature designed…
Read More » -
News
Kenya’s DCI X Account Hacked By Crypto Scammers
On Sunday evening, the X account of Kenya’s Directorate of Criminal Investigations (DCI) sent out posts inviting users to share…
Read More » -
News
Kaspersky reveals the evolution of ‘Nigerian’ email scams
Kaspersky researchers detected over 414,000 ‘Nigerian’ email scams. According to the cybersecurity firm, these emails relied on messages that lured…
Read More » -
News
TikTok Removes Over 334,000 Harmful Videos in Kenya in Q3
Short-form video hosting platform TikTok has revealed that it removed over 334,,000 videos from its platform in Kenya due to…
Read More » -
News
Fintech firm NjiaPay secures $1M+ to simplify payments for African businesses
NjiaPay on Tuesday announced the closing of an oversubscribed $1 million+ pre-seed funding round. The round was led by HAVAÍC,…
Read More » -
COLUMNS
[Chad Pollock] From AI to RTP: Top Trends Shaping 2025 Payments
Digital payments are on the rise globally, with increasing adoption across websites, apps, and in-store platforms. Looking ahead to 2025,…
Read More » -
News
Network International’s digital payment solution to power new Money Fellows offering in Egypt
Network International, a leading enabler of digital commerce in the Middle East and Africa has partnered with Money Fellows, the…
Read More » -
News
AI and Machine Learning Integration to Drive Online Trading in 2025
The financial market is about to undergo a fundamental change. As we enter 2025, Artificial Intelligence (AI) and Machine Learning…
Read More » -
News
114 Cyber Attack Attempts Targeted Critical Government Systems
A total of 114 cyber-attacks on key critical information infrastructure were recorded by government agencies from January to August 2024.…
Read More » -
News
More than half of children in META region faced violent content on the Internet
Parents nowadays tend to have many concerns about the amount of time their children spend with their gadgets and what…
Read More » -
CYBER SECURITY
Black Friday & Cyber Monday Security Tips To Keep Your Organization Safe
With Black Friday and Cyber Monday around the corner, we’re entering a high-risk period for cybersecurity. A recent Sophos report highlights that malicious…
Read More » -
BUSINESS
[BREAKING] Kenya Cancels Controversial KSh95.68 Billion Power Project Deal With Adani
Kenya has cancelled the controversial KShs 95.68 Billion (USD 736m) deal with Adani Energy Solutions for the development of transmission…
Read More » -
News
AI in Fintech Market to reach USD 70.1 billion by 2033
The fintech industry worldwide is witnessing unprecedented growth, driven by the integration of Artificial Intelligence (AI). According to market forecasts,…
Read More » -
News
Financial Education Toolkit Targeting Students Unveiled
M-PESA GO, Old Mutual and the Kenya Institute of Curriculum Development (KICD) have today unveiled a financial literacy online toolkit,…
Read More » -
CYBER SECURITY
From QR Code to Compromise: The Growing Threat of “Quishing”
Cybersecurity firm Sophos today released the results of Sophos X-Ops research on a new type of threat, quishing. This new…
Read More » -
News
TikTok removes over 360,000 videos from its platform in Kenya
Short-form video hosting platform TikTok has revealed that it removed over 360,000 videos from its platform in Kenya due to…
Read More » -
Startups
Nigeria’s Lendsqr launches its Loan Processing Services platform in Kenya
Lendsqr, a global loan management software provider, has launched its lending-as-a-service platform in Kenya. The company says the launch will…
Read More » -
News
How to Be Cautious When Downloading Google Play Store Apps
While Google attempts to remove harmful apps from its Play Store, some still manage to appear, access user information, and…
Read More » -
News
Mastercard taps Amazon Payment Services to facilitate digital payment acceptance across Africa
Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitize payment acceptance in Middle East and…
Read More » -
News
NCBA Bank turns to new tech for enhanced cybersecurity
The Central Bank of Kenya’s 2023 Banking Sector Innovation Survey revealed that cyber-risk is the most significant challenge for financial…
Read More » -
Blockchain
NISER, Soramitsu partner to scale blockchain research in Nigeria
The Nigerian Institute of Social and Economic Research (NISER) has partnered with Japan-based global blockchain company, Soramitsu to promote blockchain…
Read More » -
CYBER SECURITY
Kenya’s Digital Security Lags Amid High Online Activity: Report
Kenya is digitally an insecure environment despite having a highly engaged online population. This is according to the Navigating Kenya’s…
Read More »