Cyber fraud is a growing concern in today's digital age. Cyber fraud refers to any fraudulent activity that takes place through the use of electronic communication or information technology, such as the internet, mobile devices, or computer networks. This can include various types of fraud, such as identity theft, phishing scams, and hacking attacks.
Identity theft occurs when a fraudster obtains personal information about an individual, such as their name, address, email credentials, passwords, National ID card number, KRA PIN number, phone number and date of birth, inter alia and then uses this information to access clients’ investment portfolio, open fraudulent insurance policies and/or make false claims.
Another type of digital fraud is phishing scams. These scams involve fraudulent emails or websites that are designed to look like legitimate company communications, with the goal of tricking the recipient into providing sensitive information or downloading malware onto their device.
Consumers can protect themselves against cyber fraud by being discreet and vigilant with their personal information, using strong and unpredictable passwords, avoiding suspicious emails or websites, and monitoring their financial accounts regularly for any unusual activity. It's important to report any suspected digital fraud immediately to the company and appropriate authorities