The Director of Public Prosecutions (DPP) has charged the CEOs of NCBA Bank, KCB Bank, and Co-operative Bank with failing to report suspected proceeds of crime, linked to an alleged Sh363.3 million fraud.

• Sh363.32 million allegedly stolen from First Assurance Investment Company Limited.
• The charges stem from an investigation involving a former nominated Member of the County Assembly (MCA).
• The former MCA faces 120 charges including conspiracy to defraud and stealing, while the bank CEOs are charged with failing to report suspicious transactions under the Proceeds of Crime and Anti-Money Laundering Act.

The Director-General of the Competition Authority of Kenya (CAK), David Kemei, has identified cartels and unscrupulous businesspeople as the primary threat to Kenya’s business environment.

• These groups are accused of manufacturing crises and exploiting consumers, hindering fair competition.
• The key figure speaking out is CAK Director-General David Kemei.
• The challenge is specifically noted as undermining efforts to ensure a level playing field and protect consumers.

A tribunal has ordered Kenya Union of Savings and Credit Co-operatives (Kuscco) to refund a significant investment to Mhasibu Sacco Society Limited, exacerbating the umbrella organization's existing financial challenges.

• Kuscco must refund Sh489 million to Mhasibu Sacco.
• The ruling places further strain on Kuscco, which is reportedly facing widespread debt.
• The investment was for a matured sum, indicating a contractual obligation.

The Chief Executive Officers of three major Kenyan banks, KCB Bank, NCBA Bank, and Cooperative Bank, are facing fraud charges related to an alleged Sh363 million scheme. They are expected to appear in court on Tuesday.

• The alleged fraud involves a sum of Sh363 million.
• The individuals charged are CEOs John Gachora (NCBA Bank), Paul Russo (KCB Bank), and Gideon Muriuki (Cooperative Bank).
• The accused are scheduled to appear before the Chief Magistrate court.

Three Kenyan nationals are set to be extradited to the United States to face serious cybercrime charges, following court approval secured by the Director of Public Prosecutions (DPP).

• The accused, Francis Asanyo, Peter Omari, and Elvis Obaigwa, face charges including conspiracy to commit computer intrusions and wire fraud.
• The extradition request was formally made by the U.S. Department of Justice on February 26, 2026.
• The court has ordered the three individuals to be held at Industrial Area Prison pending their transfer to the United States.

Kenyan telecommunications companies are facing increased pressure as complaints related to scam calls and texts have surged by 83 percent, reaching a one-year high.

• Complaints regarding fraud and scams rose to 86 between April and June 2026.
• The Communications Authority of Kenya (CA) is pushing operators to tighten customer protection measures.
• Operators could face legal responsibility for negligence, including inadequate security or data breaches, and mobile money fraud is a growing threat.