Bank customers lose a record Sh1.9bn to fraud

Fraudsters stole a record Sh1.9 billion from banks in Kenya last year, highlighting the growing financial pain of cybercrime as crooks exploit loopholes in electronic payment channels to make a killing.

Fresh disclosures by the Central Bank of Kenya (CBK) show the amount of money lost to fraudsters in 2025 was 19.4 percent higher than the previous year’s Sh1.59 billion, continuing a trend since 2023 when Sh412.47 million was lost to fraud.