Equity Bank Exposes How ‘Sharp Boys’ Are Stealing from Kenyans

Equity Bank Kenya has explained how fraudsters, commonly referred to as “sharp boys”, are stealing from customers by hacking their email accounts and accessing banking details.

In a statement issued on Saturday, May 23, 2026, the bank said a recent complaint by a customer revealed how criminals were able to take control of her email before accessing her bank account.

According to the bank, investigations showed that the customer’s email was compromised through fraudulent third-party access, commonly known as hacking.

“Dear Members, following a thorough investigation, it was established that the customer’s email was compromised through fraudulent third-party access (hacking) and her banking credentials accessed,” read part of the notice.

After gaining access to the email, the fraudsters were then able to obtain banking credentials linked to the account and carry out unauthorized transactions.

The bank said it has already involved relevant security authorities and has begun the process of recovering the lost funds.

Customer Complaint Sparks Online Concern

The statement comes after a case shared on social media on May 20, 2026, where a user claimed that a woman lost Ksh 300,000 shortly after depositing the money in her account.

The post sparked concern online, with some users questioning the safety of money kept in banks and the time taken to resolve fraud cases.

Also Read: Equity Leads as Safaricom Holds Top Three Spot Among Leading Brands in Kenya

The bank later confirmed it was aware of the matter and had launched investigations through its security and operations teams.

“We are aware of the issue reported by our customer and are actively investigating it,” Equity said earlier. “Our teams are working to ensure the matter is resolved as quickly as possible.”

Bank Warns Customers

Equity has now urged customers to be careful and report any suspicious activity involving their email accounts, phones, SIM cards, or banking devices.

Also Read: Equity Bank Announces Cheaper Loans for Customers After CBK Lowers CBR Rate

The bank warned that losing access to these platforms can expose personal information to fraudsters.

It also reminded customers that it only contacts clients through its official number 0763 000 000.

Equity further warned customers not to share sensitive information such as PINs, passwords, OTPs, or card details through phone calls or SMS.

“DO NOT engage with anyone asking for your personal banking details. Equity will never ask for your PIN, Password, OTP or Card information,” the bank said.

Follow our WhatsApp channel for instant news updates

Equity Bank Building in Nairobi. PHOTO/NMG