Two university students were Monday charged with conspiring to defraud NCBA bank of one hundred and ninety million shillings.
Anthony Mwangi and Ann Wambui, who are students at the Jommo Kenyatta University of Agriculture and Technology, are accused of links to an electronic fraud syndicate.
According to the prosecution, the two with others not before court, committed the offence between the 20th of this month at the NCBA bank head office in upper hill within Nairobi county.
Senior resident magistrate Muthoni Nzibe released the two suspects on a 500,000 shillings cash bail with an alternative of 1 million shillings. The case is set to come up for hearing on 14th of November this year.
Electronic fraud has been blamed for the loss of huge sums of money from banks and other financial institutions at a time that most have adopted digitization of financial services.
Most criminals often breach institution’s data bases exposing data to cybercriminals allowing unauthorised access to privileged accounts.