Absa Bank Kenya, once known for its strong reputation in the financial industry, is now under fire following a shocking exposé revealing a deep-rooted culture of corruption, manipulation, and unethical behavior within its ranks.
An anonymous informant has revealed to leaked.co.ke about the bank’s internal workings, highlighting issues ranging from sexual solicitation to insider fraud and data breaches.
According to the whistleblower, a senior manager in the bank’s marketing department, Mr. Charles Wokabi, is at the center of sexual exploitation scandals.
He is accused of hiring women based on their physical appearance rather than qualifications and using his position to solicit sexual favors.
Women who refuse to comply reportedly face threats, poor performance reviews, and are often passed over for bonuses and promotions.
These allegations have painted a troubling picture of workplace harassment that appears to be widespread and unaddressed.
The whistleblower also detailed how Absa Bank’s employees collude with branch managers to manipulate customers, particularly high-value clients, for personal gain.
Sales employees allegedly offer inflated loans to customers in exchange for upfront bribes, while securing their own commissions.
Branches such as Queensway and Ngong are reportedly involved in these unethical practices, where customers are manipulated into paying large sums of money for loans they would not otherwise qualify for.
This level of manipulation extends beyond individual clients to include systemic issues.
Insider fraud through the bank’s Timiza Loans App has been highlighted as another major problem.
The app, intended to offer microloans to Kenyans, has been exploited by senior employees who collude with accomplices to issue fraudulent loans, which are never repaid.
These fraudulent loans reportedly amount to millions of Kenyan shillings, leaving Absa Bank to cover the losses while insiders profit.
Customer Information
Perhaps the most alarming revelation from the anonymous source is the claim that Absa Bank employees are involved in stealing and selling customer data without their consent.
This information includes credit card details and mobile banking credentials, which are sold for as little as Ksh. 1,000 per record.
As a result, customers often receive unsolicited loan offers and marketing messages from companies they have no association with.
The scale of these data breaches is shocking, with various branches, including Nyali and Lavington, involved in manipulating sales numbers and leaking customer data for profit.
The whistleblower alleges that the bank’s internal security systems are unable to detect these breaches, making it easier for insiders to steal and sell information without facing repercussions.
Beyond the Timiza Loans App, the whistleblower also accuses senior managers of corruption in the awarding of contracts.
Allegedly, Absa’s finance department colludes with supply chain managers to award tenders to companies offering the largest kickbacks.
For instance, transport services were switched from Bolt to Yego after bribes were paid to a senior manager, Mr. Kemboi.
Absa Bank Kenya’s internal investigations have also come on the spot.
The bank’s forensics team, led by Charles Maina and Frederick Ogonda, is accused of asking for bribes to halt investigations into fraud.
This level of corruption has reportedly hindered efforts to hold wrongdoers accountable, further damaging the bank’s reputation.
The revelations from this anonymous whistleblower have cast a dark shadow over Absa Bank Kenya’s operations.
With allegations of sexual exploitation, fraud, data breaches, and corruption, the bank’s reputation as a trusted financial institution has been severely compromised.
The exposure of these internal issues calls for urgent reforms and investigations, as the rot within Absa threatens to undermine not only its standing in the Kenyan market but also the trust of its customers.
With the spotlight now firmly on Absa Bank Kenya, the public is eagerly awaiting the bank’s response to these damning accusations and whether any meaningful action will be taken to address the alleged widespread corruption.
If left unaddressed, the bank risks losing the confidence of its clients and facing potential legal ramifications for its failure to protect customer data and maintain ethical business practices.
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