× Digital News Videos Health & Science Opinion Education Columnists Lifestyle Cartoons Moi Cabinets Kibaki Cabinets Arts & Culture Gender Podcasts E-Paper Tributes Lifestyle & Entertainment Nairobian Entertainment Eve Woman TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Hackers sneak into National Bank, walk away with 29 million

By Hillary Orinde | January 19th 2018
The bank has denied that customers’ accounts are affected. [Courtesy]

National Bank of Kenya has admitted losing Sh29 million in a fraud attack at the institution on Wednesday, January 17, 2018.

The bank would however, wait for 48 hours after the attack to issue a statement on the loss, maintaining that customers’ accounts had not been affected.

“We confirm that there was an attempted fraud in normal course of business on January 17, but the Bank’s monitoring and security resources frustrated the attempt,” the statement read.

It further dismissed as false the social media speculation on the potential loss in what the institution called ‘attempted fraud’.

“The amount of attempted fraud is about Sh29 million and we are confident we will recover most of that money,” the bank added.

Financial institutions in Kenya have recently become a soft target for cyber criminals, losing Sh30 billion within two years.

Police records show that the institutions lost Sh17 billion to the fraudsters in 2016, up from Sh14 billion in 2015.

A report published by the Communication Authority and Kenya National Bureau of Statistics (KNBS) in 2017 showed only a mere 36.5 per cent of enterprises has an ICT security policy.  

In a move to cripple the morphing menace, Central Bank of Kenya (CBK) directed banks to furnish it with a cyber-security policy by the end of August 2017.

Share this story
Did Politician choose KPL awards winners?
A senior politician has been accused of meddling in this year’s Kenyan Premier League awards.
Diabetes: Insulin now an essential drug
Listing NCDs is a relief to Kenyans like 65-year-old Kahuho Mathai from Nyeri County, who was diagnosed with type 2 diabetes and high blood pressure.