Equity Bank employee released on Sh200,000 bail after pleading not guilty to cyber‑theft charges

Ian Muhia Maina, an Equity Bank staff member, was granted cash bail of Sh200,000 after denying three charges related to alleged unauthorized access and attempted theft on the bank’s Finacle system.

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Equity Bank employee Ian Muhia Maina appeared before Milimani Resident Magistrate Irene Thamara and pleaded not guilty to three separate charges.

The magistrate set cash bail at Sh200,000, with an alternative bond of Sh600,000, pending further court proceedings.

The charges stem from allegations that Maina duplicated two user profiles on Equity Bank’s Finacle platform, identified as VM53601 and BC23924, in a suspected theft plot.

Under Section 14(1) of the Computer Misuse and Cybercrimes Act, Maina is accused of unauthorised access to a computer system belonging to Equity Bank Limited.

He also faces an attempted stealing charge under Section 389 of the Penal Code, alleging intent to steal from the bank after creating the duplicate profiles.

A third charge alleges conspiracy to commit a felony, specifically the attempted stealing, in collaboration with unnamed co‑accused who have not yet appeared in court.

The charge sheet indicates the alleged offences occurred on various dates between May 2026 and 21 October 2026 at an undisclosed location within Kenya.

Finacle, the software cited in the case, is widely used by Kenyan financial institutions to manage customer accounts and transaction processing, with user profiles governing system access rights.