Seth Mwabe Okwanyo aka Seth Onyango Odhiambo, a cyberfraudster is facing serious charges after detectives from the Banking Fraud Investigation Unit (BFIU) arrested and arraigned him in court for devising a fraudulent scheme that siphoned off Ksh11.4 million from a leading microfinance institution.
The microfinance lodged a complaint in July last year after 38 fraudulent transactions were executed through the institutions System, resulting in a loss of Sh11,410,165.
Investigators immediately sprang into action, uncovering that these 38 transactions were absent from the microfinance institution records yet were flagged as successful to the recipients.
This inconsistency showed that the hackers deliberately deleted both system and database logs to cover their tracks.
Further investigation indicated the unauthorised installation of a Java application in the system.
With this malicious app, Seth Mwabe Okwanyo was able to manipulate the system to not only siphon the money but also launder them through various accomplices.
In court, Seth faced multiple serious charges, including Unauthorised Access to a Computer System, Computer Fraud, and Money Laundering.
He entered a plea of not guilty to all 20 counts. The court granted him bail, allowing his release on a bond of Sh1,500,000 or a cash bail of Sh500,000. The case is slated for mention on March 3, 2026.
