How tech-savvy bank staff make away with billions of shillings annually ?

Dancan Gacheru has been accused of stealing Sh28 million by his employer, Equity Bank, and if found guilty, it would be one of the single-largest frauds orchestrated by a young and savvy employee in the banking sector.
Mr Gacheru, whose case is pending determination before the Mombasa High Court, is just one of hundreds of bank employees accused of stealing Sh114.98 million from financial, public and private institutions in March alone. Even worse, only Sh20.7 million of this amount has been recovered, according to the March crime returns report from the Central Bank of Kenya’s Banking Fraud Investigations Department (BFID) sent to the bankers’ lobby, Kenya Bankers Association (KBA). The report paints a grim picture of today’s nightmare for banking executives who are losing several billions of shillings every year to fraudsters.

[“source-standardmedia.co.ke”]