Following a string of data scandals, a whistleblower from Absa Kenya’s Timiza digital credit department has exposed rampant data theft and internal corruption.
This comes hot on the heels of an investigation conducted by Absa itself as well as a probe by Central Bank of Kenya (CBK) into their unscrupulous dealings at the financial giant.
The latest explosive revelations center around Christine Marandu (Head of Credit) and Chiera Waithaka (Credit Risk) both fingered for fostering a culture of data abuse within Timiza, a product allegedly led by Elkana Momanyi, a man the whistleblower claims lacks qualifications and reeks of “fraud.”
Fearing retribution but determined to see justice served, the whistleblower boldy informed us that since 2023, Timiza has been illegally collecting customer data from their phones without consent.
This data includes all SMS content, including sensitive financial transactions and personal messages.
The Timiza app, upon installation, sends all collected data, including personal SMS to a third-party server (PNGME).
Here, the data is reportedly not anonymized, with some employees accused of reading private messages for amusement.
Despite internal inquiries by staff about this egregious breach of privacy, Elkana Momanyi allegedly dismissed these issues.
The financial data harvested is then exploited for targeted marketing campaigns and in some cases sold on the black market to other financial institutions.
The whistleblower points fingers at Timiza’s technical lead Collins Ouma, accusing him of acquiring over 100,000 customer data points for personal use.
At the same time, Chiera Waithaka, during a meeting, explicitly sought ways to monetize this data.
The whistleblower states that they chose to bypass internal channels and go public because they were disillusioned with Absa’s internal reporting system.
Previous attempts to report these malpractices internally were met with intimidation and obfuscation.
Evidence of these allegations is said to be readily available in Absa’s emails, network drives and the Timiza app’s terms and conditions.
This unethical practice is not just an isolated issue but part of a broader pattern of misconduct that has previously drawn scrutiny from Absa South Africa and the Central Bank of Kenya (CBK).
Absa bank has been on the radar as CBK launched a comprehensive investigation into numerous complaints against Absa Bank Kenya, including serious allegations of sexual harassment, insider fraud and other unethical practices.
This investigation follows an internal probe by Absa South Africa into all Kenyan branches, prompted by the alarming frequency and gravity of the complaints.
An anonymous informant revealed a cesspool of corruption and malfeasance at Absa Bank Kenya, including sexual favours, customer manipulation, and mysterious deaths of employees.
For instance, the Nyali branch saw the tragic death of an employee, Oscar Owino, in August 2023, under suspicious circumstances involving a fellow employee and lover.
Absa’s data center in Westlands, known as the Data Office, is involved in stealing customer records and selling them on the Kenyan black market.
Engineers there collect customer data, including credit card details and mobile banking information and sell it for as high as Ksh 1,000 per customer record.
This data leak extends to the branch levels, where sales employees collude with branch managers to manipulate sales numbers for personal profit.
The Timiza product is also riddled with fraud. Elkana Momanyi and Steve Omamo, who lead the Timiza loan app, are embroiled in constant battles over leadership, resulting in high employee turnover.
Elkana is accused of granting huge loans to known individuals who then default, leading to massive losses for the bank. In 2018, Ksh 180 million was lost, and in 2022, Ksh 20 million vanished under dubious circumstances.
When fraud is suspected inside the bank, forensic officials are quick to ask for bribes from suspects to bury the investigations.
One executive has been under DCI radar in connection with the Equity bank heist of Ksh 179 million.
Absa Staff Now Acquiring Bank’s Properties at Devalued Prices
Absa Bank Kenya may announce huge profits but behind the scenes lies a shocking series of cruel bargains and events involving senior staff.
Despite the bank being embroiled in endless court cases, senior staff still access client information and details on underutilized assets.
These properties are later acquired by the staff through proxies at devalued prices.
Questionable Dealings
Chief Finance Officer Yusuf Omar, a seasoned accountant and expert in economics, is under scrutiny for working with cartels regarding the company’s assets.
Confident in his protection from the higher-ups, Omar acquired the Bamburi Absa branch, which sits on a 1-acre piece of land touching the tarmac and second row from the beach, neighboring the iconic Whitesands Hotel.
He snapped up the property for around Ksh 35 million, significantly below its rightful value of Ksh 100 million.
Insider sources indicate that the Directors at Whitesands were willing to acquire the property at a price above market value.
Omar was assisted by a controversy-prone staff member in Mombasa, Wycliff Makori, who is currently strained over several other cases of similar magnitude.
Makori has been accused of colluding with the data department and high-ranking staff to leak crucial client data and bank details to outsiders, including fraudsters.
Inside Information
Other staff members implicated include Elizabeth Irungu, Chirera Waithaka, Ruth Kamengere, Moses Muthui, Ms. Karori, Steve Omamo, Elkana Momanyi and unidentified officers based in Nairobi.
Numerous assets across Nairobi, Malindi, Nakuru, Mombasa, Kisumu, Naivasha and Diani are at risk of being acquired by bank staff through dubious means.
We have a list of bank branch managers who have been colluding with outsiders to defraud clients and access sensitive information.
Omar, who owns properties worth millions, is known for holding secret meetings with leading corporate CEOs, County Executives and corrupt government officials who seek quick money deals through the bank.
Notably, the bank’s cartel staff across various branches in Kenya involved in these dubious deals often do not qualify for their key positions but were appointed due to corruption, nepotism, and even sexual favors.
Absa bank Kenya is a ticking time bomb!
KenyanHour 