Kenyan consumers lost an estimated Ksh29.9 billion to cybercrime between July and September 2025, including online scams and mobile‑money fraud, highlighting the urgency of better safeguards.

A GeoPoll survey in April 2026 found that 37 % of respondents had lost money to a cyber incident in the previous year, while 54 % reported mobile‑money fraud, underscoring the prevalence of digital threats.

Peter Githiora, operational risk officer at Co‑operative Bank, warned young people at the Co‑op Bank Youth Forum on 23 October 2026 to be cautious of unsolicited messages that could lead to fraud.

He identified three core red flags: unusually high promised returns, limited information about the investment and pressure to act immediately, advising victims to pause and verify before paying.

Githiora noted that fraudsters often create a false sense of urgency, urging potential victims to send money before they can investigate the offer, a tactic also seen in online shopping scams.

TransUnion’s June 2026 report found that 39 % of Kenyan consumers who lost money to digital fraud blamed third‑party seller scams on legitimate e‑commerce sites, with a median loss of Ksh108,132.

The bank officer urged people to verify suspicious calls, messages and offers through official channels before clicking links, sharing personal data or sending money.

He also recommended confirming the identity of any person or business offering investments, goods or payment requests, rather than relying on contact details supplied by the other party.

Experts stress that Kenyans should never share PINs, passwords or one‑time passwords, as fraudsters can use these to access bank accounts or mobile‑money wallets.

Common threats also include phishing messages, impersonation scams, fraudulent online shops and job offers that demand upfront fees, all of which require vigilant verification.

Githiora framed financial management as a three‑step process: identify risks, decide on mitigation actions and monitor their effectiveness, encouraging youths to adopt this habit regardless of income level.