2 Charged in Old Mutual, Equity Bank Fraud
Rio Times
Last updated: October 28, 2026
Two separate fraud cases have emerged in Kenya, involving alleged illicit activities at Equity Bank and a former officer from Old Mutual. The charges detail a US$689,600 theft and the creation of cloned profiles within a financial institution.
- Equity Bank is reportedly investigating an employee accused of creating cloned customer profiles. This action is believed to be part of fraudulent schemes within the bank.
- In a separate incident, a former officer of Old Mutual has been charged in connection with the theft of US$689,600. The specifics of how this significant sum was misappropriated are under investigation.
- These cases highlight ongoing concerns regarding financial irregularities and security breaches within established financial institutions in Kenya.
- The charges suggest a pattern of internal malfeasance and sophisticated fraudulent activities targeting customer accounts and company assets.
- Further details regarding the investigation and potential consequences for those charged are expected as legal proceedings commence.
