Bankers Association to curb mobile banking fraud
12 September 2013, 12:31
Nairobi - Kenya Bankers Association has said that its working on a plan that will reduce fraud in banks due to the recent changes in the banking system.
Speaking in Nairobi on Wednesday, Kenya Bankers Association IT manager, Fidelis Muya, said that many banks have lost a lot of money to mobile banking fraud and they are working in conjunction with security authorities to curb the practice.
He said that the banking industry is leading in the issuance of debit cards, but they must be certified by the Association and also be EVB compliant to ensure that they are secured.
Muya said that the association is setting up a banking fraud department which will work closely with security agencies including the police to investigate and monitor bank frauds.
“We train our officers in IT but as technology continues improving, we need to up our game. We have sought advice with the leading mobile service providers in the country to come up with a viable solution," said Muya.
He said that they are working together as an industry urging banks to upgrade the database of their current account holders.
At the same time, he said that they are working towards reducing the charges of visa-acclaimed ATMs, which usually charge large withdrawal fee especially if one is not a client of that particular bank.
“Some Visa outlets charge as much as KES 250 per ATM withdrawal and this is too much for a local citizen, who was perhaps even withdrawing as little as KES 200. This is far too much,” He said.
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