Kenya's mobile banking system, once a model for financial inclusion, has become a prime target for cybercrime. SIM swap scams, which involve fraudsters hijacking a victim's phone number to drain their mobile wallet, have surged by 327% in the country, with over Sh491 million lost in 2025 alone.

According to Interpol, the global police agency, SIM swap fraud has become one of Africa's most prominent cyber-enabled crimes, with 97% of countries surveyed identifying it as their most common scam. The agency attributes the rise in SIM swap scams to weak and inconsistent know-your-customer (KYC) procedures, coupled with the inability of some telecoms operators to verify identities in real time.

The scale of the losses underscores the growing financial toll of cybercrime targeting digital payment platforms. In Kenya, mobile banking was the hardest hit, with criminals siphoning off Sh810.68 million in 2024, a 344% rise from Sh182.41 million in the prior year. The thefts often occur on Friday and Saturday nights, targeting millennials, individuals born between 1981 and 1996.

Warning signs of SIM swapping include sudden loss of mobile service, unexpected text messages or emails about account changes, inability to access accounts, or unauthorized transactions. Safaricom, Kenya's largest mobile network operator, has reported a surge in mobile banking fraud cases, driven by social engineering, credential compromise, and SIM swap schemes.

To combat the vice, Safaricom has introduced a new technology, called Single View (View360) SIM swap platform, which provides agents with a centralized dashboard to verify customer identities and safely execute telephone line replacements while flagging high-risk transactions. The platform runs 18 automated pre-checks, covering roaming status, fraud location patterns, device activity, and more, handing decision-making to the system rather than frontline agents.

As a result of the adoption of Single View, fraudulent swaps have dropped by 65%, and this is expected to drop further with enhancements in the pipeline. However, Interpol emphasizes that the root cause of SIM swap scams remains inconsistent KYC protocols, particularly in countries where telecoms providers lack the technical capacity to verify identity in real time.

Interpol urges governments, telecoms operators, and financial service providers to strengthen safeguards against SIM swap fraud and improve coordination in responding to cyber-enabled financial crime. The agency recommends requiring all mobile money platforms and fintechs to integrate real-time fraud alerts with national cybercrime units, mandating biometric verification at the point of SIM registration and KYC onboarding.

The SIM swap scam epidemic highlights the need for robust cybersecurity measures to protect mobile banking systems and prevent financial losses. As the use of mobile money platforms continues to grow, it is essential that governments and financial institutions work together to strengthen safeguards against cybercrime and ensure the integrity of digital payment systems.

Warning Signs of SIM Swapping

Be aware of the following warning signs of SIM swapping:

  • Sudden loss of mobile service
  • Unexpected text messages or emails about account changes
  • Inability to access accounts
  • Unauthorized transactions

Combating SIM Swap Scams

To combat SIM swap scams, telecoms operators and financial institutions must work together to strengthen safeguards against cybercrime. This includes:

  • Implementing real-time biometric verification at the point of SIM registration and KYC onboarding
  • Integrating real-time fraud alerts with national cybercrime units
  • Enhancing information sharing between telecoms operators and financial institutions

Sources

This report was synthesised from the following coverage: