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Safaricom extends SIM fraud fight to lenders
Safaricom chief financial services officer Sitoyo Lopokoiyit speaks at the launch on June 25, 2019. PHOTO | SALATON NJAU | NMG
What you need to know:
- New solution targets all financial services firms that are increasingly becoming major targets for fraudsters.
- It will enable financial institutions to check if a customer SIM swap has occurred in our network.
- The tool will empower them to make more informed decisions when interacting with their customers in the digital space
Safaricom has launched an anti-fraud intelligence solution to alert financial sector players on fraudulent mobile banking transactions involving SIM card swaps and newly registered lines.
The telco said Tuesday the service eyes banks, micro-finance institutions and all digital financial services firms that are increasingly becoming major targets for fraudsters.
