Bankers and insurers disturbed by fraud

In 2012, Kenyan, Ugandan and Tanzanian insurance companies and banks accumulated more than 2.5 billion KES (29.2 million USD) in losses due to fraud of non-executive employees. This estimate is certainly understated because these institutions do not disclose these incidents in order to protect their image. Theft of cash and check fraud topped the list of fraudulent activities.

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