Exposed: Absa Bank Kenya Unmasked in Sh10 Million Fake Guarantee
Fraudulent cases targeting unsuspecting Absa Bank Kenya customers continue to emerge even as the bank battles a Sh1.5 billion compensation suit against the transport firm New Mega Africa.
In what could compound allegations of data breach and deliberate sabotage of businesses, the bank is at the center of a Sh10 million bank guarantee scandal involving an investor in the oil sector.
The investor later realized that the bank guarantee issued was fake and not binding.
The client had ordered goods worth millions of shillings, only for the bank to disown the guarantee.
The bank, through its Trade and Finance department, sent an email to the investor denying the guarantee.
It explained that the guarantee was not binding.
The guarantee was issued by the Absa Nkrumah Road Branch ...
