In the suit, New Mega Africa accuses Absa Bank of financial sabotage by disclosing its confidential financial information to third parties without its consent.
By
Brian Ocharo
Correspondent
Nation Media Group
A transport company seeking Sh1.5 billion in damages from Absa Bank Kenya over an alleged data breach has told the court it has engaged an independent auditor to quantify the financial losses it claims to have suffered following the alleged unlawful disclosure of its confidential banking records to a third party.
EADB has lost a 23-year bid to recover Sh1.3 billion after court ruled it failed to justify the loan’s escalation.
Court rules that both institutions failed in their separate duties to protect the client from the fraud.
It started with three Mombasa-based tycoons, standing as principal guarantors to a Sh126.75 million loan issued to Kenya Bus…
The suspects denied 68 charges, including theft, money laundering and forgery, linked to alleged withdrawals from a customer’s…
The funds are linked to forged documents, suspicious payments from Invest & Grow Sacco and a person who falsely posed as a lawyer.
Absa becomes the second major listed lender to report lower earnings after Standard Chartered Bank Kenya’s net income declined…
