Safaricom to digitize SIM-swaps in move to curb fraud

Leading telco Safaricom Plc is set to digitize SIM-swapping processes in a move widely seen as a cure to curb fraud through illegal sim replacements.

In its latest annual report, Safaricom says it will be seeking to redeploy the SIM Swap journey to its SubReg application dubbed Safaricom Jiandikishe.

At the same time, Safaricom says it will be simplifying and reviewing the business rules on SIM swaps on the application.

Moreover, the operator says it will hold stakeholder engagements on plan to decommission/end SIM Swaps on USSD codes, where SIM replacements are usually activated via the *180# code.

The move to deflect SIM swapping to digital apps is widely viewed as the company’s countermeasure to curb fraud with the digital solution providing better safeguards against illegal swaps.

The switch which Safaricom desires to achieve across its current financial year to March 2023 comes as more Kenyans disclose losses in the millions of shillings from SIM-swap fraudsters.

The operator has confronted instances where its mobile-money agents, commonly referred to as M-Pesa agents have coerced with fraudsters to illegally swap SIM cards.

The digitization of the process on the contrary offers better safeguards including the encryption of data provided by customers.

Recently, Safaricom moved to curb the instances of fraud by providing the option to restrict SIM swaps at M-Pesa agents by limiting the replacements of the cards to its customer care shops.

Swaps allow customers to replace their SIM cards, mostly in the cases of loss.