Co-operative Bank on Tuesday, June 9 responded after a complaint from a man who claimed to have lost Ksh468,000 was widely shared on social media.
The man accused various workers at the bank of somehow orchestrating the withdrawal of all his funds from his account in collaboration with scammers.
Seeking to set the record straight, Co-operative Bank Head of marketing and communications, Ngumo Kahiga, asserted that the allegations were false and unfounded.
He disclosed that the account in question was actually suspended in March after the bank observed possible involvement in illegal activities.
Asserting that they would not succumb to online intimidation, the bank observed that the individual had failed to respond to various queries they raised on his activities.
"This claim is without any doubt, untruthful. This customer is aware the bank procedurally and legally blocked his account as early as March 2020 because of suspected illegal activities.
"Their response is to threaten a social media smear campaign instead of addressing the issues raised. The bank will not be intimidated to allow suspected irregular activities whatsoever," he asserted.
The bank made it clear that it had implemented various measures to ensure customers' funds and information remain safe.
Co-operative Bank has also invested heavily in technology not only to ensure that customers are able to undertake fast, seamless transactions but also to guarantee that those transactions are secure.
Whether you do your banking at your nearest branch, agent or through mobile or web applications, it is important to remember to also protect yourself from fraudsters by never giving out personal information such as your Personal Identification Number (PIN).
Without your Personal Identification Number (PIN), it is practically impossible for anyone to gain access to your account or withdraw funds.
It is also crucial to note that banks are regulated by the Central Bank of Kenya (CBK), and are mandated to take efforts to flag suspicious transactions.
This is meant to curb the proliferation of various illegal activities which may include organized crime, money laundering and terrorism financing.
