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DTB, Safaricom to pay client Sh4.4m for fraud loss
The High Court has upheld a trial court's ruling that Safaricom and Diamond Trust Bank were found liable for a SIM-swap fraud that saw a customer lose Sh4.4 million.
Diamond Trust Bank (DTB) and Safaricom have been jointly held responsible for a SIM-swap fraud that saw a customer lose Sh4.4 million. A court ruled that both institutions failed in their separate duties to protect the client from the fraud.
Dismissing an appeal by DTB and a cross-appeal by Safaricom, the High Court affirmed a magistrate's finding that the telco and the lender were negligent, as their failures enabled the fraud.
