SUSPECT ARRAIGNED OVER SH11.4M CYBER HEIST

Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested and arraigned cyberfraudster Seth Mwabe Okwanyo, aka Seth Onyango Odhiambo, for orchestrating a fraudulent scheme that siphoned off Sh11.4 million from a leading microfinance institution.

This action follows a formal complaint lodged by the Microfinance institution, detailing a shocking incident that occurred on July 16, 2025. On that day, a total of thirty-eight (38) fraudulent transactions were executed through the institutions System, resulting in a loss of Sh11,410,165. These transactions circumvented the company's internal visibility and control measures, raising serious concerns about security breaches.

Dedicated investigators immediately sprang into action, uncovering that these thirty-eight transactions were absent from the microfinance institution records yet were flagged as successful to the recipients. This discrepancy indicated that the hackers had deliberately erased both system and database logs to cover their tracks.

Further investigation revealed 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 steal the funds 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 twenty 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, as authorities continue with their investigations to unravel this intricate web of cybercrime.

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