Kenyans lost an estimated Ksh29.9 billion to cybercrime between July and September 2025 to online scams, mobile money fraud and other digital attacks, even as the schemes continue to become more sophisticated by the day.
A GeoPoll report published in April 2026 found that 37 per cent of surveyed Kenyans had lost money to a cyber incident in the previous year, while 54 per cent said they had experienced mobile money fraud.
Speaking during the Co-op Bank Youth Forums on Friday, October 23, Peter Githiora, an Operational Risk Officer at Co-operative Bank, warned young people to be more cautious when responding to online offers and investment opportunities.
According to Githiora, youths should be wary of unsolicited messages that could expose them to fraud.
Peter Githiora, an Operational Risk Officer at Co-operative Bank, speaking during the Co-op Bank Youth Forums on Friday, October 23.
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Co-op Bank
Githiora explained that recognising warning signs and verifying information before making payments can help people protect their finances.
Unusually high promised returns, limited information and pressure to act urgently are among key warning signs of potential scams to look for, according to Githiora.
He advised people to be suspicious of offers that promise unusually high profits without clearly explaining how the investment works or the risks involved.
While detailing some of the frauds targeting Kenyans, Githiora said fraudsters may also create a false sense of urgency, pressuring potential victims to send money immediately before they have time to investigate the offer.
This is even as the risk for scams extends to online shopping. TransUnion's June 2026 report found that 39 per cent of Kenyan consumers surveyed who had lost money to digital fraud in the previous year attributed their losses to third-party seller scams on legitimate e-commerce websites.
The same report found that the median reported loss among affected Kenyan consumers was Ksh108,132, underlining the potential financial cost of falling victim to digital fraud.
Githiora urged consumers to pause and verify suspicious calls, messages and offers through official channels before clicking links, sharing personal information or sending money.
“Pause and verify suspicious calls, messages and offers through official channels before clicking links or sending money,” Githiora advised.
Githiora went on to say, “People should independently confirm the identity of a person or business offering an investment, selling goods or requesting payment rather than relying solely on contact details or links supplied by the other party.”
According to the experts, Kenyans should refrain from sharing personal identification numbers (PINs), passwords and one-time passwords, which fraudsters may use to access bank accounts or mobile money wallets.
Other common threats include phishing messages, impersonation scams, fraudulent online shops and job offers that require applicants to pay upfront fees.
According to Githiora, financial management should include identifying potential risks, deciding how to address them and monitoring whether the chosen measures are working.
He also encouraged young people to begin managing their money regardless of how much they earn. “Identify the risk, then choose what to do and monitor whether or not it is working,” Githiora said.