NAIROBI, Dec. 11 (Xinhua) -- Kenyan authorities on Tuesday called on all stakeholders in financial and banking sector institutions to join efforts to strengthen the fight against mobile money fraud and cybercrime.
Noordin Haji, director of Public Prosecutions said collaborative efforts are crucial in the fight against the crime which he said is rife in the east African nation.
"There is need to include critical components of mobile money and fraud prevention strategy in order to collaboratively fight this crime which is evolving by the day," said Haji during a forum in Nairobi that brought together stakeholders in banking and financial sectors.
The country's top prosecutor noted that there was need to fortify governance and law enforcement to fight crime.
He noted that while all measures have been put in place to prosecute criminals, there was need to train officers and share intelligence which will be necessary to curb the crimes.
Nicholas Mulila, Safaricom chief corporate security officer said that a lot of progress has been made in reducing mobile money losses, a move which has been driven by strengthening controls around the system and collaborating with all stakeholders.
"We have made significant progress in the last one year, with mobile money losses moving from 90 million shillings (882,000 U.S. dollars) down to 20 million shillings this year," Mulila said.
"We will continue to collaborate with investigative arms of government to ensure that we seal all loopholes that may expose our customers to criminals," Mulila added.
This was the fourth mobile money fraud forum organized by Safaricom this year with an aim of bringing together stakeholders in financial and banking sectors as well as fintechs in an effort to discuss ways to curb mobile money fraud and cybercrime activities in the country.