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Kenyan banks plan new system to curb ATM fraud

Thursday, April 04, 2013 — updated on December 25, 2020 - 1 min read

Mr Habil Olaka, the chief executive of the bankers’ lobby. Photo/File

The Kenya Bankers Association (KBA) has launched plan to have all banks migrate to more secure automated teller machines (ATM) and plastic cards by September 30.

The cards, including both debit and credit, will be implanted with a chip instead of the more fraud-prone magnetic strip in most of the current ones.

“A few banks have already complied but we are not sure whether this is full compliance or partial. All we expect is that by the end of September all will have complied,” said said KBA chief executive Habil Olaka.

Mr Olaka launched the move at the Hilton Hotel in Nairobi.