[kictanet] Sim card swap: How Farah Bashir lost Sh2.6m to fraudsters in hours

[Victor Kapiyo]

Morning Listers,

In the news today:

Farah Bashir is yet to come to terms with how his bank accounts were wiped
clean by fraudsters, barely two days after he had landed in Johannesburg
for a two-week assignment in February.

He painfully recounted how he watched helplessly as Sh2.6 million was
withdrawn by hackers in several transactions from his four different Absa
Bank accounts between February 7 and February 9.

Read more:
https://nation.africa/kenya/news/sim-card-swap-how-farah-bashir-lost-sh2-6m-to-fraudsters-in-hours-3831356

SIM Card fraud has been in the bees lately. The sums lost are pretty high.
I bet there are many sad tales from individuals who've lost collasal
amounts due to sim swap fraud.

How come we're not able to contain this crimes? I wonder who's the weakest
link here that needs to pull up their socks? It's really a big threat to
our digital economy if we can't address this growing menace.

Happy to hear your thoughts on this.

Regards,

Victor
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