#Africa #Kenya #MPesa #Scammers #Scamming: "M-Pesa’s ubiquity has attracted many scammers. In 2021, a FinAccess survey found that nearly half of the Kenyans using mobile money had fallen victim to fraud or accidentally transferred money to the wrong recipients. That figure was 8.4% higher than the previous year. In 2022, a CBK report showed that 6.1% of mobile banking users and 25.9% of mobile money users had lost money through cybercrime.
In February 2023, Kenya’s Directorate of Criminal Investigations (DCI) arrested eight men alleged to be members of a criminal syndicate that had defrauded mobile money users of more than 500 million Kenyan shillings ($3.8 million). Some towns, such as Mulot in Bomet County, have emerged as operating hubs for the M-Pesa SIM-swap fraud syndicates.
In 2022, Abdi Zeila, a Kenyan businessman, filed a class action suit against Safaricom and the country’s communications authority for exposing him to fraud. Zeila had lost 495,651 Kenyan shillings ($3,766) to SIM swap fraudsters. The court also opened the door for him to invite more victims of SIM swap fraud to join the suit."
https://restofworld.org/2023/mpesa-sim-swap-fraud/