Stanbic Bank to refund client targeted by account hijacker

The Small Claims Court ordered Stanbic Bank Kenya to refund Sh511,000 to a customer after finding that weaknesses in its customer verification systems allowed fraudsters to access his account. The customer, James Njoroge, lost his mobile phone and personal documents, enabling fraudsters to create a digital banking profile linked to his account. The court emphasized that the bank's registration process lacked adequate safeguards for activating new digital channels.