DTB, Safaricom to pay client Sh4.4m for fraud loss
A Kenyan High Court has held Diamond Trust Bank and Safaricom jointly liable for a SIM-swap fraud that cost a customer Sh4.4 million. The court ruled that both institutions failed in their duty of care by ignoring suspicious activity and failing to protect the client's data.
Why it matters
This ruling sets a significant legal precedent for financial and telecommunications accountability in digital fraud cases, emphasizing that institutions cannot rely solely on PINs to validate transactions.
Diamond Trust Bank (DTB) and Safaricom have been jointly held responsible for a SIM-swap fraud that saw a customer lose Sh4.4 million. A court ruled that both institutions failed in their separate duties to protect the client from the fraud.
The article reports on a court judgment using neutral language and citing the court's findings directly.
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