Jogu Ngige, a bank manager in the cards department, was accused of defrauding the lender using an ATM card to withdraw the money at various outlets in Nairobi.
A Chase Bank employee has been charged with attempting to defraud the bank of Sh877,000.
Jogu Ngige, a bank manager in the cards department, was accused of defrauding the lender using an ATM card to withdraw the money at various outlets in Nairobi.
Chase Bank said its business was anchored in trust and thus does not regret parting ways with members of staff who betray the ethical standards of behaviour that the bank abides by.
“We ensure that we put in place initiatives that ensure that such cases do not arise in the first place, by strengthening our internal control mechanism,” a statement from the bank reads in part.
A study by Deloitte shows that the most prevalent forms of financial crime reported in Kenya are cash theft, cheque fraud, plastic money scams and electronic funds transfer fraud.
The Deloitte survey calls on banks and insurance firms to invest in robust technology and human resource to mitigate the impact of financial crimes and safeguard customer deposits and shareholder value. It faults banks’ strategies to preventing and combating fraud, as many of them have weak or inadequate internal controls.
