Gaps in Preventing Digital Fraud in Kenya’s Financial Systems

Executive Summary

This brief examines the gaps in preventing digital fraud in Kenya’s financial systems and services. It explores cybercrime awareness amongst finance-based professionals and consumers; investigative and legal expertise; unregulated financial technology; and lastly institutional security systems. Suggested recommendations include, creation of public awareness on perpetration of digital financial crimes; enhancement of legal and investigative capabilities of relevant officials; improving monitoring systems within fin-tech institutions, and, lastly strengthening of security systems in financial institutions.