Crackdown on mobile registration and investment in cyber security initiatives has cut malicious SIM swap fraud to only 40 out of every 750,000, according to Safaricom.
However, the Telco said SIM swap requests remain high, with approximately 28,000 swaps processed daily.
SIM swapping allows customers to retain their existing number by obtaining a replacement SIM card, which is critical when a card is lost or damaged.
However, fraudsters have increasingly exploited this process to gain control of users’ phone numbers and access sensitive data, particularly M-PESA accounts.
