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Man Decries Losing Ksh20,000 To Fraudsters Through HFC

Kenyan Bankers Association

A man is decrying the loss of Ksh20,000 to online fraudsters through HFC, after losing his ID and phone.

According to his friend who reached out to Kahawa Tungu, the man lost his ID and mobile phone among other valuables on March 24, 2019.

He proceeded to block the line a few hours later. Last week he received a notification from HFC asking him to pay back a loan of Ksh20,000.

When he called back to inquire about this loan, he was informed that his mobile phone and ID details had been used to register an account with HFC and a loan of 20,000 advanced to him via M-pesa.

“This was shocking, the guy is not a client of HFC. On visiting the office he was told that he could not be helped, that all that is required to register an account are the ID details. This means and HFC confirmed that if I was to get a copy of your ID and your phone number, then I would simply need to download the HFC Mobile banking App and use those details to create an account, and then depending on your Mpesa transactions and CRB listing, they would determine a limit and then advance the loan via MPESA,” says the friend.

Read: SIM Swap Fraud A Global Threat To Individuals And Institutions – Survey

The man is calling upon HFC to advance their security systems to curb financial fraud, which has been on the rise in the recent past.He ia also requesting a cancellation of the loan, since he did not take it.

Last year, the Directorate of Criminal Investigations (DCI) revealed that the scammers could even be using the iEBC register to get details which they use in fraud.

The DCI last year arrested four suspects in possession of 20,000 SIM cards, 300 mobile phones and two laptops, that were used in fraud.

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Written by Kahawa Tungu


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