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A multi-million shillings internal fraud prompted PesaLink to cap inter-bank transfer amounts during the festive season, The Standard has learned.
According to sources who sought anonymity, the move by the bankers’ money transfer service PesaLink to cut the maximum amount of cash that can be transacted via mobile by a third was informed by two lenders who were hit by massive fraud during the 10 months the service has been in operation.
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