How SACCO Accountant Siphoned Ksh16 Million from Members’ Accounts
As part of the scheme, a total of 58 cheques were reportedly issued, cleared, and deposited without trace...
✨ Key Highlights
The DCI has arrested an accountant suspected of orchestrating an Ksh 16 million fraud at a SACCO. This arrest follows an earlier apprehension of a businessman linked to the scheme.
- Total fraudulent transactions amounted to Ksh 16,013,166.
- The suspect, a former accountant, allegedly authorized 58 fraudulent cheque payments from members' accounts in collusion with external accomplices.
- The arrest comes amidst increased scrutiny of SACCO governance, with a fresh inquiry ordered into the Kenya Union of Savings and Credit Cooperatives (KUSCCO).
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Detectives Uncover Ksh16 Million SACCO Fraud; Separate SHA Identity Fraud Investigated - February 2026
Detectives from the Banking Fraud Investigation Unit (BFIU) have uncovered a cheque fraud scheme that led to a Sacco losing over Sh16 million. An accountant suspected of orchestrating the fraud has been arrested by the DCI in connection with the elaborate scam, which involved 58 fraudulent cheques. This follows an earlier apprehension of a businessman linked to the scheme. In a separate case, a Nairobi family faces a two-month delay in burying their relative, Antony, after he fraudulently used his brother's identity to access medical care at Mbagathi Hospital under the Social Health Authority (SHA). This deception has led to a fraud investigation, which is stalling the issuance of a correct death certificate.
