The Sacco Societies Regulatory Authority (SASRA) has called on saccos across the country to be vigilant over cybersecurity breaches and attacks.
In a statement dated Thursday, April 17, the authority noted that the attacks, which target the saccos holding money contributed by Kenyans, happen during long holidays such as the Easter weekend.
According to SASRA, the attacks most likely happen 12 hours before the holidays or in the last hours of the holiday.
Therefore, the saccos were encouraged to consistently monitor their systems to ensure that there are no breaches.
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"Consequently, all Regulated SACCOs are hereby called upon to heighten, intensify and strengthen the cyber-security monitoring and surveillance over their Management Information Systems (MIS), Digital Financial delivery channels, and other ICT infrastructures used to provide financial services to members in order to detect and prevent any potential cyber-attacks or breaches during the Easter Holidays Weekend.
Criminals often attack institutions offering financial services to steal sensitive data of customers.
In other cases, criminals can also wipe out savings that have been made by Kenyans in the financial institutions.
"Regulated SACCOs and their third-party system vendors and integrators (where applicable) must institute round-the-clock internal control measures to detect and prevent insiders (employees) from colluding with third parties committing such cyber-attacks and breaches," the authority warned.
"Special attention should be given to activities related to the electronic and/or digital linkages of mobile phone numbers to funds held in mobile money wallets and/or mobile money float accounts and/or mobile money pay-bills and/or any other settlement accounts."
