A 24-year-old man faced Milimani Senior Principal Magistrate Martha Mutuku on charges of orchestrating a scheme to steal Sh294,800,003 from Family Bank through unauthorized modifications to pre-paid card balances.
Kevin Kunga Mwaka allegedly manipulated the bank's core banking system between November 1, 2018, and January 20, 2019, to facilitate the theft. The prosecution stated he altered data with intent to steal, violating Kenya's Information and Communications Act.
Additional charges include theft of Sh15 million on January 19, 2019, and conspiracy with unnamed accomplices to siphon over Sh294 million between January 19-20, 2019. Mwaka was arrested on March 4, 2019, and released on a cash bail of Sh1 million or a Sh2 million bond after pleading not guilty to all four counts.
The case highlights growing concerns over cyber-enabled financial crimes in Kenya's banking sector, with the accused allegedly exploiting vulnerabilities in digital transaction systems.
