KCB Group has announced that it fired 22 employees over fraud. These occurred in the financial year ended December 2023. The sackings were a sharp increase of up 175 per cent from the 8 employees that were sacked in the previous financial year over fraud.

The bank, through its sustainability report that was released on August 20, 2024, stated that it delt with 48 fraud-related charges. Out of these, 22 employees were sent home while another 26 workers opted to resign.

“Maintaining a flexible workplace safety is paramount, and our disciplinary processes are designed to be fair and effective in deterring fraudulent activities,” the bank stated.

“In 2023, we handled 48 disciplinary cases that were related to fraud, resulting in 22 terminations and 26 resignations. We also conducted targeted training to address process lapses and enhance control environments.”

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KCB Group further stated that during the year under review, it blocked up to 249 fraud attempts on its systems. These fraud attempts had targeted to steal Sh. 362.7 million.

In the previous year, the bank had blocked 113 fraud incidents on its banking systems that were worth Sh. 137.5 million.

“We have invested in digital technology that has enable us to guarantee the integrity of our systems and aided the Group in increasing the efficiency with which we serve our customers,” the bank stated.

“All staff decisions can be monitored, which leads to greater accountability and transparency in the Group’s operations, but also effectively blocks any fraudulent activities.”

The bank added that the planned implementation of a new mobile banking platform, leveraging on AI and machine learning models is aimed at enhancing customer security and combating fraudulent activities.

“The integration of multiple services via mini apps within the super app demonstrates our commitment to providing a comprehensive and secure digital banking experience,” the bank stated.