Habil Olaka, CEO, Kenya Bankers Association. FILE PHOTO | NMG
Banks Tuesday launched a nationwide campaign dubbed Kaa Chonjo
to promote safe use of their online platforms by training Kenyans on
ways of securing personal details when making transactions on their
smartphones.
Kenya Bankers Association (KBA) chief
executive Habil Olaka said institutions have made heavy investments to
secure their systems, leaving customers unaware of risks they expose
themselves to when carrying out online transactions.
“Financial
technologies (Fintech) have solved payment challenges making life
easier for everyone and creating new jobs and opportunities, but there
has been inevitable attempts by fraudsters to exploit vulnerabilities
that lead to compromising of security during transactions,” Mr Olaka
said. The KBA boss said social engineering and identity theft were the
new crimes in town where gaming sites were used to woo Kenyans to
“share” the winnings.
This has seen optimistic
“winners” share their details online including their PINs creating an
opportunity for fraudsters to strike.
Integration of
payment platforms with retail chains pay-points could promote trust for
online banking services among Kenyans where up to 90 per cent still
prefer cash transactions compared to the cashless mode of payments.
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