Kenya: Public Warned to Be Wary of Online Fraudsters

Nairobi — The public is being warned to be wary of unlicensed and unregulated financial services and products which include online pyramid schemes, credit and savings schemes as well as fraudulent mobile loan applications.

Through a joint statement, various regulatory bodies outlined some of the features of these products which include payment of a registration fee, promise unusually high returns, do not have a registered physical address.

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