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

[Barrack Otieno]

You hit the nail on the head. Most good accounts have relationship
Managers. I doubt they would just sit there and watch a fat account being
decimated.

Regards

On Mon, 30 May 2022, 5:05 pm Alex Watila via KICTANet, <
kictanet at lists.kictanet.or.ke> wrote:

> Good afternoon,
>
> The Kenya Bankers Association and the Telcos are conveniently avoiding
>  the evidence that most of these frauds involve insiders
>
>
>
> Without dealing with the insider threats in the banks and telcos the
> frauds will continue
>
>
>
> At the moment they have just identified the sim swap vulnerabilities
> (actually some of the international banks have made 2FA mandatory and are
> using Authentication apps that are not based on your sim)
>
>
>
> Regards,
>
>
>
> Consultant
>
> ICT4D
>
> *Quality Management Systems
> <https://advisera.com/27001academy/#a_aid=621f58ced9bb1&a_bid=f79f3b0b> *
>
> *Information Security Management Systems
> <https://advisera.com/27001academy/#a_aid=621f58ced9bb1&a_bid=f79f3b0b>*
>
>
>
> *From:* KICTANet <kictanet-bounces+awatila=gmail.com at lists.kictanet.or.ke>
> *On Behalf Of *David Indeje via KICTANet
> *Sent:* Monday, May 30, 2022 10:59 AM
> *To:* Alex Watila <awatila at gmail.com>
> *Cc:* David Indeje <davidindeje at gmail.com>
> *Subject:* Re: [kictanet] Sim card swap: How Farah Bashir lost Sh2.6m to
> fraudsters in hours
>
>
>
> Dear Listers,
>
>
>
> These cases are emerging at an alarming rate. Indeed, the Kenya Bankers
> Association says consumer education will play a central role in addressing
> emerging security challenges. The association cites cases of phishing
> emails, and malware attacks, to have scaled up in tandem with the enhanced
> uptake of internet and mobile transaction platforms.
>
>
>
> “A study paper on human-centered cybersecurity: Kenyan Fintech sector,”
> prepared by KICTANet, in collaboration with Trust4Cyber Flagship Deutsche
> Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH,  says emerging
> threats in Kenya are organized crime, exporting cybercriminals to the East
> African region.  https://bit.ly/3vBc5SA
>
>
>
> *Kind Regards,*
>
>
> *David Indeje *_____________________________________
>
> +254 (0) 711 385 945 |  +254 (0) 734 024 856
>
> <https://www.linkedin.com/in/david-indeje/>
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