A whistleblower from Absa Kenya’s Timiza digital credit department has unveiled extensive data theft and internal corruption within the organization.
This revelation comes on the heels of both an internal investigation by Absa and a probe by the Central Bank of Kenya (CBK) into the bank’s unscrupulous practices.
The explosive allegations primarily implicate Christine Marandu, Head of Credit, and Chiera Waithaka, Credit Risk Manager, who are accused of fostering a culture of data abuse within Timiza.
The whistleblower has also targeted Elkana Momanyi, allegedly the lead of the Timiza product, accusing him of lacking qualifications and being involved in fraudulent activities.
According to the whistleblower, since 2023, Timiza has been illegally collecting customer data from their phones without their consent.
This data includes all SMS content, encompassing sensitive financial transactions and personal messages. Once the Timiza app is installed, it reportedly sends all collected data to a third-party server operated by PNGME.
The data is not anonymized, allowing some employees to read private messages for amusement.Despite internal concerns raised about this significant privacy breach, Elkana Momanyi allegedly dismissed these issues.
The financial data harvested is then utilized for targeted marketing campaigns and, in some instances, sold on the black market to other financial institutions.
The whistleblower has specifically accused Timiza’s technical lead, Collins Ouma, of acquiring over 100,000 customer data points for personal use. Moreover, Chiera Waithaka is accused of explicitly seeking ways to monetize this data during a meeting.
Ouma is now challenged to come forward and refute these claims.The whistleblower decided to bypass internal channels and go public after becoming disillusioned with Absa’s internal reporting system.
Previous attempts to report these malpractices internally were reportedly met with intimidation and obfuscation.
The whistleblower asserts that ample evidence of these allegations can be found in Absa’s emails, network drives, and the Timiza app’s terms and conditions.
These revelations necessitate a thorough investigation into Absa’s internal communications and data management practices.
The CBK, along with other regulatory bodies, must act swiftly to ensure accountability and safeguard customer privacy.
The exposure of such deep-rooted corruption and data abuse not only tarnishes Absa’s reputation but also undermines the trust that customers place in financial institutions.
The whistleblower’s courageous actions have brought to light serious misconduct within Absa Kenya’s Timiza digital credit department.
The bank now faces the daunting task of addressing these allegations, rectifying the systemic issues, and rebuilding trust with its customers.
This incident serves as a stark reminder of the importance of transparency, integrity, and stringent data protection measures in the financial sector.
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