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Wireless

Kenyan Unclaimed Financial Assets Authority declares over KES 500 mln left in mobile wallets

Monday 16 November 2020 | 13:31 CET | News
Kenya's Unclaimed Financial Assets Authority (Ufaa) says unclaimed monies surrendered by mobile phone companies rose 48.06 percent or KES 570.3 million in the past nine months, revealing a growing trend of Kenyans abandoning cash in mobile money accounts, The Daily Nation reported. Ufaa said money surrendered by the operators stood at KES 1.76 billion. This might be caused by growing scrutiny and monitoring of transfer of large sums across mobile networks by state agencies fighting terrorism, money laundering and corruption.

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Categories: Mobile & Wireless
Countries: Kenya
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