PREMIUM Fraud: How Sunday afternoon funds transfer left woman fighting to recover Sh500,000 Half a million shillings left her account, yet she never received a transfer alert. News 16 min ago

The disputed transfer has now drawn in Co-operative Bank, the Banking Fraud Investigation Unit (BFIU) and detectives from the Directorate of Criminal Investigations, highlighting the growing challenge of resolving electronic banking disputes in an era where transactions are completed within seconds but investigations can take months.

The bank also informed her that after the funds reached the recipient account, they were immediately transferred to four separate mobile money accounts.

Two weeks without getting any further update from the bank, Ms Akinyi reached her lawyers and directed that they draft a demand letter to Co-op Bank seeking for a formal explanation and gave the bank seven days to “rectify the anomaly and have the same amount transferred to the aforesaid account”.