Mobile banking fraud cases increased by 87.2% to 146, the highest in 2024

Key takeaways

  • Total fraud cases in Kenyan banks rose from 173 in 2023 to 353 in 2024.
  • Mobile banking fraud cases jumped by 87.2% to 146, making it the most common fraud type.
  • Online banking fraud recorded the steepest rise, growing by 457.9% to 106 cases.
  • Identity theft increased by 51.4%, reaching 56 reported cases in 2024.
  • Internet scams increased by 28.6%, totalling 9 cases in 2024.

Fraud cases in Kenyan banks surged sharply in 2024, nearly doubling from 173 cases in 2023 to 353 cases in 2024. Mobile banking fraud emerged as the biggest contributor, rising by 87.2% to 146 cases, the highest among all fraud categories. However, the most striking growth came from online banking fraud, which skyrocketed by 457.9%, showing how digital channels are becoming increasingly exploited by fraudsters.

Identity theft also saw significant growth, rising by 51.4% to 56 cases, indicating that fraudsters are becoming more sophisticated in exploiting personal data. Card fraud and computer fraud cases grew at slower rates of 14.3% and 9.1% respectively, showing that while traditional fraud channels remain relevant, the bigger risk is shifting towards digital platforms.

Source:

Central Bank of Kenya

Period:

2023 - 2024
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