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CBK in plan to compensate victims of digital fraud

A 2021 consumer survey found that fraud in mobile financial services has emerged as a key risk for consumers and can take many different forms.

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By  Kepha Muiruri

Business Reporter

Nation Media Group

The Central Bank of Kenya (CBK) has outlined plans to enact e-money and digital wallet compensation guidelines to enhance consumer protection.

The initiative is set out in the Kenya National Financial Inclusion Strategy 2025-2028, and follows a rise in fraud particularly targeting mobile money wallets.

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