Making The Most Of Your Bank Cards This Festive Season For Safer And Smarter Spending

As the festive season begins and the countdown to Christmas quickens, many of us are preparing for travel, family gatherings, and the familiar rush of holiday spending...

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As the holiday season approaches, financial institutions are urging Kenyans to exercise caution with their bank cards due to a significant rise in cyber fraud. The Central Bank of Kenya reported that cyber fraud losses in the banking sector nearly quadrupled in 2024, reaching KES 1.5 billion.

Cyber fraud losses in the Kenyan banking sector reached KES 1.5 billion in 2024, a nearly four-fold increase.
Charity Muchiri, Assistant Manager of Cards Business at Family Bank, highlighted the prevalence of holiday-themed phishing and social engineering scams.
Different card types, including debit, credit, prepaid, multicurrency, and virtual cards, offer various benefits and risks for festive season spending.

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