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How Kenyans lost Sh491m, cryptos via SIM hijack

Interpol said governments, telecoms operators and financial service providers need to strengthen safeguards against SIM swap fraud and improve coordination in responding to cyber-enabled financial crime.

Photo credit: Shutterstock

By  Edna Mwenda

Business Reporter

Nation Media Group

Kenyans lost Sh491.6 million ($3.8 million) and cryptocurrency after cyber-criminals hijacked victims’ mobile phone numbers in SIM-swap fraud.

Interpol reckons that Kenya’s SIM swap fraud surged by 327 percent last year on the back of increased use of mobile money platforms.

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