A few weeks ago a KCB customer discoverec that he had lost more than 3 million from his savings account, he reported to the bank, allegedly there were clear indications that fraud was an insider job disguised as work of hackers
Well, after weeks of investigations the KCB wrote to customer breaking the bad news that the bank ONLY REFUNDS 10% of the amounts lost. This is a strange considering the money was lost while in the bank custody….
After the matter blew up on social media, this is how the bank responded.
KCB Group is aware of claims of an alleged data breach in one of its systems.
An investigation points to malicious misinformation that has caused concern amongst some of our customers. The alleged customer data breach has been found to be false.
We wish to assure all our customers that our platforms and data are highly secured. KCB Group systems including the mobile App have been extensively tested and validated by our internal and the best external data security experts. Multiple layers of encryption, private keys and unique authentication are among the key embedded data security features that safeguard our mobile app.
There is no breach to our systems.
The bank is working with the relevant authorities to take the necessary legal action against the parties who originated this misinformation.
Our commitment as a trusted partner is to continually offer secure and best in class banking experience using new technology.