A X user has exposed how Standard Chartered Bank of Kenya (StanChart) is using his closed account to transact huge sums of money.
“Yet another transaction being done from my account WHICH I CLOSED!!! wtf is happening?,” White Ferrari, (@tnecniiiv) posted on X.
The post which had 57k views by the time of going to press was accompanied by a screenshot showing a transaction of over a million shillings used on a debit card.
A few days prior, he had posted on X lamenting that a transaction had failed on the same account.
“Woke up today to a failed transaction on my Stanchart account an account which I closed a while ago wtf is happening,” he posted.
The bank responded, “Hi, thank you for bringing this to our attention. Please DM your mobile number for us to look into this and advise. By sharing your contact information, you consent to Standard Chartered processing of your personal data for the above purpose. Please be assured that we at Standard Chartered process personal data about you only for specific and legitimate business purposes. (2/2) ~CM”.
Umoja News could not immediately establish if this was a case of money laundering or mistake in KYC by the bank.
“The bank might have done a wrong know your customer (KYC) entries and mistakenly used his phone number to open a new account that is now being used by another person,” a financial analyst shared with Umoja News.
Cyber attacks and banking security
The last official data shows that Kenyan loses billions of shillings each year in cyber attacks targeting financial institutions.
As of 2018, Poland-based OnNet cyber security firm revealed that hacker group called SilentCards had robbed a whopping 17 billion shillings from the country’s lenders. That’s a 150 million euros over the last two years. They had taken 3.54 million euros from a single bank last year.
