Teamwork required in fight against cyber crime

Stakeholders in financial institutions and banking sector have been urged to work together to strengthen the fight against mobile money fraud and cybercrime.
Director of Public Prosecution Noordin Haji said there was need to fortify governance and law enforcement to fight crime.
“There is need to include critical components of mobile money and fraud prevention strategy in order to collaboratively fight this crime which is evolving by the day,” said Haji who was speaking during a forum that brought together stakeholders in banking and financial sectors in Nairobi.
He noted that while all measures have been put in place to prosecute criminals, there was need to train officers and share intelligence to curb crimes.
Safaricom Chief Corporate Security Officer Nicholas Mulila said that a lot of progress had been made in reducing mobile money losses, a move which has been driven by strengthening controls around the system and collaborating with all stakeholders.
“We have made significant progress in the last one year, with mobile money losses dropping from Sh. 90 million Sh. 20 million in 2018.
He added that Safaricom will continue to collaborate with investigative arms of government to ensure that all loopholes that may expose our customers to criminals are sealed.
Tuesday’s forum was the fourth Mobile Money Fraud forum organized by Safaricom in 2018 with an aim of bringing together stakeholders in financial and banking sectors as well as Fintechs in an effort to discuss ways to curb mobile money fraud and cybercrime activities in the country.
By Wangari Ndirangu