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Alarm as fraudsters invade online payment platforms

Kenya Bankers Association Chief Executive Officer Habil Olaka(right) with the association's Director of Technical Services Fidelis Muia(left) during the launch of Chip and Pin technology for payment cards. The move is aimed at reducing card skimming which has been on the rise in the recent past taken on 12th May 2015. PHOTO: WILBERFORCE OKWIRI/STANDARD]

Fraudsters are moving their trade to online payment platforms after the banking industry successfully migrated all its members from using the old magnetic stripe cards to those that use Pin and Chip technology.

These new plastic cards feature an embedded micro-processor chip that provides enhanced security and other application capabilities compared to the traditional magnetic stripe.

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