Auditors say regulation of Saccos has helped tame cyber crime

Principal Secretary, State Department of Cooperatives Ishmail Abdi Noor during the official opening of the Imarika Plaza in Kilifi Town on Saturday, June 25, 2022. [Nehemiah Okwembah, Standard]

Regulation of savings and credit co-operatives (Saccos) has cut the number of cyber-attacks in the sector, auditors have said.

They noted that the Sacco Societies Regulatory Authority (Sasra) has worked well with the co-operatives to weed out the crime that is a headache for many financial institutions.