Equity Bank publicly warned that a series of online advertisements promoting a so‑called Quantum AI investment scheme are fake and have no connection to the bank or its senior executives.

The fraudulent promotion claims Kenyan citizens can earn KSh 3.6 million per month after an upfront payment of about KSh 32,000, and it falsely cites Equity Group Managing Director James Mwangi and Safaricom CEO Peter Ndegwa as backers.

Equity Bank stressed that the ad bears a visible “FAKE” stamp and that neither Mwangi nor Ndegwa have endorsed or participated in the alleged project.

The bank urged Kenyans not to click suspicious links, register for unverified programmes, or transfer money to unknown promoters, and to treat any offer promising unusually high returns with extreme scepticism.

Customers are advised to verify any genuine Equity Bank product announcements only through the bank’s official X account @KeEquityBank and other recognised social‑media channels.

Anyone who has already transferred funds or disclosed personal or banking details in response to the fake ads should contact their bank or financial service provider immediately and report the incident to the relevant authorities.

The bank also asked the public to share the warning widely to help prevent further victims from falling prey to the scheme.

The Directorate of Criminal Investigations (DCI) has concurrently warned Kenyans about online fraud groups that use flashy lifestyles and false investment promises to lure victims, underscoring the broader risk environment.