Absa Bank Kenya has denied any involvement in a data breach lawsuit that seeks KES 1.5 billion in damages from the bank.
The bank said it did not leak or disclose the financial records of New Mega Africa Limited, a logistics firm that accused the bank of financial sabotage.
Wycliffe Makori, the bank’s corporate credit manager, said internal investigations found no evidence of data breach by the bank or its employees. He said the firm’s allegations were “outrageous” and “intended to steal a march against the bank’s demand of outstanding loan amount, which remains unpaid by the firm.”
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The KES 1.5 billion had been previously awarded to New Mega, however, the High court set aside the award to pave way for the hearing and determination of the entire lawsuit. The company accused the bank of financial sabotage and disclosing financial statements to strangers without its consent.
The company’s director David Abai claimed that the leaked financial statements of the company scared other financiers who refused to lend money to New Mega Africa Limited citing it was broke and lacked strength to service its loans.
The logistics company also claims that the bank failed to maintain the secrecy of the client accounts by printing its financial statements . The suit was also fueled by the bank’s alleged refusal to approve New Mega Limited’s loan application on time and this crippled its operations.
New Mega Africa LTD is a logistics company that moves clinker from Kenya to Uganda for the manufacture and processing of cement and other related products.
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