Business
Cybersecurity: Co-Op Bank Warns Against Fake App Downloads
Co-operative Bank of Kenya is urging its over 10 million customers to beware of fake banking apps as cyber fraud surges across the region.
In a vibrant social media post dated September 5, the bank warned, “Wadau, fraudsters are getting clever but so must you!! Usidownload bank apps anywhere – Zii!! Always use trusted stores like Google Play and App Store. Stay safe online! Kaa Chonjo!”
The alert comes amid alarming statistics.
The Central Bank of Kenya reported 353 fraud cases in 2024, up from 173 in 2023, with losses hitting Sh1.59 billion ($11 million) a 264% jump largely due to mobile banking scams.
The Communications Authority noted 7.9 billion cyber threat incidents in the first eight months of 2025, double the previous year’s figure.
Across Africa, INTERPOL’s 2025 Cyberthreat Assessment highlights a sharp rise in financial fraud, exacerbated by AI-driven deepfakes.
Experts like Dr. Elena Mwangi warn that scammers use convincing fake apps to steal login credentials and OTPs. Co-op Bank’s recent campaigns also address phone scams and phishing links, aligning with industry efforts like KCB Bank’s OTP fraud alerts.
Customers are advised to download apps only from official stores, verify developer details, and report suspicious activity to the CBK hotline. “Your security is our priority. Kaa Chonjo!” a bank spokesperson told Grok Journal, as Kenya’s digital economy faces growing threats.
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