Our ethics and values are the principles and standards that guide our behaviour as employees and individuals. We use an independent ethics perception survey and preventative measures like our continuous ethics awareness and staff anticorruption training programmes to monitor and manage the ethical culture within Safaricom.
ROBUST RISK MANAGEMENT
We use a combination of risk assessments, audit and fraud reviews to monitor and manage risk throughout the company. We also benchmark ourselves against other leading telecommunications operators and independent assurance is provided through both internal and external audit functions. As a company, we also endeavour to apply the Precautionary Principle to all our activities to help ensure that we continue to act as a responsible corporate citizen.
Helping customers tackle fraud
During the year, we continued to help customers safeguard themselves from social engineering attacks and the criminal syndicates that target M-PESA users.
Safaricom mass market caravan campaigns and other activations, especially in rural areas, included awareness campaigns to alert customers to the common fraud schemes used by crime syndicates and to offer advice on steps they can take to prevent being defrauded.
We also increased the number of staff working in the team monitoring suspicious activity on the M-PESA platform and implementing Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures, which has enabled us to achieve our target of investigating and reporting suspicious M-PESA transactions within seven days. We also host a Mobile Money Investigations Unit (MMIU), which is a unit composed of officers from the Police Force. The unit investigates cases of mobile money fraud and forwards such cases for prosecution.
We ensure that we remain compliant with regulatory requirements by assessing our processes against all applicable laws and regulations. We also engage with our regulators proactively on all issues through a variety of channels.