A Facebook user named Titus has raised serious concerns about the security of funds within Safaricom’s financial services. According to his post, unauthorized transactions were made from his account at night, draining his M-Pesa balance and incurring substantial Fuliza and M-Shwari debts.
The incident began at 1:27 a.m. when 60,000 KES was sent to an unknown number, followed by a series of transactions that left Titus with a Fuliza debt and an M-Shwari loan totaling over 31,000 KES. Despite reporting the issue to Safaricom, he was instructed to forward the fraudulent number and report the matter to the police, with no assurance of a refund.
This case adds to the growing fraud allegations against Kenya’s telecom giant. Earlier this year, Safaricom dismissed 33 employees linked to corruption and fraud, with investigations leading to several being forwarded to law enforcement. The company has been battling SIM swap incidents, which have led to financial losses for customers.
Photo of a black man appearing to be lost in thoughts
The gravity of the situation is underscored by the advice given to Titus to uninstall all Safaricom apps, suggesting a potential vulnerability within the applications themselves. The question arises: how did the fraudsters access his account details, and could this be an inside job?
Safaricom has previously taken steps to combat fraud, including ethical training for staff and partnerships with law enforcement to investigate M-Pesa fraud cases. However, these measures seem insufficient in the face of ongoing security breaches.
As the largest telecommunication provider in Kenya, Safaricom’s responsibility to safeguard customer funds is paramount. This incident has heightened tensions and cast doubt on the safety of mobile money services, prompting urgent calls for enhanced security measures and transparency from the company.
The public outcry signals that trust in Safaricom’s ability to protect its users’ assets is waning. With the spotlight now on their security protocols, the pressure is on Safaricom to address these concerns and restore confidence in their services.
