Safaricom Cuts SIM Swap Fraud to Record Low: Just 40 Cases in Every 750,000 Swaps

In a major stride against SIM swap fraud, Safaricom has successfully reduced fraud cases to only 40 in every 750,000 SIM swaps. This is a marked improvement in the fight against the prevalent scam, which has historically posed a significant challenge for Kenya’s largest telecom operator and its customers.

The achievement comes as part of Safaricom's commitment to bolstering the security of its digital services. Safaricom implemented several new security features, including enhanced identity verification processes and AI-based fraud detection systems. These advancements have been instrumental in detecting and preventing fraudulent activities at an early stage.

SIM swap fraud occurs when fraudsters impersonate customers to illegally take control of their SIM cards, often gaining access to financial information and mobile money services. The telecom industry has been grappling with this issue globally, making Safaricom's latest achievement a milestone in telecom security.

Safaricom’s Chief of Corporate Security, Nicholas Mulila, emphasized that the company remains vigilant against evolving threats. "Our goal is to continue building robust measures that protect our customers. This reduction in fraud cases is a testament to our commitment," he said.

The company plans to keep refining its security strategies, aiming to reduce the occurrence of SIM swap fraud even further while encouraging customers to take proactive steps in safeguarding their personal information.

West Arekahme