Safaricom PLC employees fired for engaging in fraudulent activities has increased by 37.5 per cent in the full year ending March 2023 as the company sought to mitigate rising fraud cases.
According to Safaricom’s annual report, fraud cases increased from 24 during a similar period last year, with SIM-swap mainly affected.
The telecommunication company says Sim -swap was mitigated through monitoring and digitization.
SIM-swap occurs when a fraudster convinces an operator that they are genuine line owners through pretence.
“Safaricom has a whistle-blowing policy that provides for an ethics hotline managed by an independent, accredited and external institution. Through the hotline, anonymous reports on unethical/fraudulent behaviour can be made without fear of retaliation from the suspected individuals.” read part of the report.
After accessing customers’ numbers, fraudsters can access customers’ bank accounts before stealing money.
