What began as an ordinary KSh5,000 M-Pesa transfer quickly turned into a nightmare for a Nairobi woman after she discovered that KSh500,000 had vanished from her bank account without her knowledge.
Gladys Akinyi, 34, said she was carrying out a routine transaction when she made the startling discovery. Instead of seeing the balance she expected, she realised that half a million shillings had already been withdrawn from her Co-operative Bank account.
The revelation left her confused and desperate for answers.
According to bank records, the KSh500,000 had been transferred to an account belonging to Ghala Kuu Digital Distributors Limited. Akinyi, however, insists that she never authorised the transaction and says she did not receive an SMS alert notifying her that the money had been moved.
Alarmed by the unexplained loss, she immediately contacted the bank and later visited her branch, where she lodged a formal complaint.
She also reported the matter to detectives from the Directorate of Criminal Investigations and the Banking Fraud Investigation Unit, hoping the money could be traced and recovered before it was moved beyond reach.
But the bank’s subsequent findings added another layer of mystery.
Co-operative Bank reportedly told Akinyi that its internal investigations showed the transaction had been carried out using her registered credentials, biometric authentication and mobile device.
The bank further indicated that the funds were quickly transferred from the recipient’s account into four separate mobile money accounts.
Akinyi has strongly disputed the findings, maintaining that she did not initiate or approve the transaction.
Investigators have since confirmed that the case remains active. Detectives say they have found no evidence of a SIM swap so far, but they are exploring other possibilities, including whether someone could have gained unauthorised access to Akinyi’s mobile banking application.
The investigation has also led detectives to the company that allegedly received the money. Investigators have reportedly traced Ghala Kuu Digital Distributors Limited and are seeking to question its director after obtaining court orders to facilitate the inquiry.
For Akinyi, the loss has gone far beyond a banking dispute.
The KSh500,000 had been set aside to help finance her mother’s air ticket to the United States. With the money gone and no immediate recovery in sight, the family was forced to abandon the travel plans.
Frustrated by what she considers a lack of progress, Akinyi has now escalated the matter legally. Through her lawyers, she issued a demand letter to Co-operative Bank seeking a formal explanation and recovery of the missing funds within seven days.
The bank has maintained that its investigations point to the account holder as responsible for the transaction.
However, the Banking Fraud Investigation Unit says its investigations are still ongoing.
For now, the biggest question remains unanswered: How did KSh500,000 leave Akinyi’s account if, as she insists, she never authorised the transaction?
The case has once again drawn attention to the growing security challenges surrounding digital banking, as millions of Kenyans increasingly rely on mobile phones and electronic platforms to move their money.
