36 employees were last year sacked from Kenya Commercial Bank (KCB) over fraud. This is according to KCB’s latest sustainability report.
According to the bank, the number of fraud cases reported decreased to 57 last year from 87 in 2015.
In total, KCB has fired 159 employees for fraud and unethical behaviour since 2014.
In 2015, the bank had fired 33 employees while in 2014, it had dismissed 90 employees for engaging in fraudulent practices.
“The bank also uses a combination of various anti-fraud measures including risk assessments, fraud awareness, whistleblowing hotlines, together with audit and fraud reviews to monitor and manage fraud risk throughout the group,” KCB chief executive Joshua Oigara said in a statement.
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.