Nairobi: A Woman Loses KSh 500,000 Immediately After Sending KSh 5,000 via M-Pesa

A routine transfer of KSh 5,000 to an M-Pesa account turned into a financial nightmare for Nairobi resident Gladys Akinyi after she discovered that KSh 500,000 had disappeared from her Co-operative Bank account without her knowledge.

The 34-year-old said she made the shocking discovery while attempting a normal transfer she had performed many times before.

Instead of finding her expected account balance, she realised that half a million shillings had already been withdrawn.

Bank records later showed that the money had been transferred to an account belonging to Ghala Kuu Digital Distributors Limited.

Akinyi insists she never approved the transaction and says she did not receive any SMS notification confirming the transfer.

She immediately contacted the bank before visiting her branch to file a formal complaint.

She also reported the matter to detectives at the Directorate of Criminal Investigations and the Banking Fraud Investigation Unit, hoping the funds could be traced and recovered before they disappeared through the banking system.

However, the bank later informed her that its internal investigation found the transaction had been completed using her registered credentials, biometrics and mobile device.

It also reported that the money was quickly moved from the recipient account into four separate mobile money accounts. READ FULL STORY HERE.