The chances of getting scammed are getting higher in recent times. More and more Kenyans are reporting online scams and cyber-attacks every day. An online scam is a dishonest scheme orchestrated via the internet to fleece innocent, unsuspecting victims of their money or valuable information.
Kenya National Bureau of Statistics reported that there was a five-fold increase in online scams between 2019 and 2020. This article will provide tips to avoid falling for the different types of online scams that are prevalent in Kenya today.
Tip 1. Verify Online Investment offers from the Capital Markets Authority (CMA)
While online you will come across various investment offers. To ensure you are investing in an authentic and legitimate online platform, you should verify from the Capital Market Authority (CMA) in Kenya.
The CMA is the government agency saddled with the responsibility of licensing and regulating the activities of any financial service provider in Kenya. Any investment platform licensed by the CMA is considered safe. To verify, visit the CMA website and view the list of licensees.
Many investment scams that border on forex and cryptocurrency are perpetuated in Kenya. For the avoidance of doubt the Capital Market Authority of Kenya has licensed only 6 non-dealing forex brokers to operate in Kenya. Cryptocurrency investments are also not regulated by the Kenyan government so you…
