ATMs dispense fake notes
04 November 2013, 13:20
Nairobi - It has been discovered that some banks in Nairobi are dispensing fake notes, yet banks are reluctant to compensate affected customers thus raising concern among Kenyans.
Research indicates that banks are reluctant to publicize fraud cases involving non-management staff, Daily Nation reports, and security agents who reload ATMs are taking advantage of this shortfall to commit fraud by replacing genuine note with fake ones.
Slack financial crime control laws and laxity by bank managers are responsible for the increased cases of fraud at ATMs.
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