Credit solutions firm, Metropol Corporation Ltd is banking on an identity theft service to curb loan scams through use of lost ID cards.

This move comes on the back of rising cases of fraudulent borrowing that has seen many people listed at the  Credit Reference Bureau for non-performing loans they never borrowed.

Now, the firm has developed an ID card that notifies individuals whenever their number is used for unauthorised transactions.

“Congratulations to the development team. All this happening at this moment when we are faced with the Covid- 19 pandemic that has put a stranglehold on the economy, is a clear statement of Metropol’s capability and commitment to serve its customers and mitigate the risk they face while accessing credit,” said Metropol boss Omukoko.

 Last year, Directorate of Criminal Investigations (DCI) urged Kenyans to report lost IDs to avoid being implicated when they are used for crime.

“Following overwhelming reports of Online Fraud to our DCI offices across the country, we wish to caution members of the public against engaging in online transactions with companies, agencies and/or individuals they have no credible information about, to avoid putting at stake their hard-earned money,” it said.

Rampant cases of identity fraud include online groups luring jobless Kenyan youth on the promises of getting them jobs within and abroad. 

Culprits also include online product vendors who disappear once payments are done in advance, online car hires that never materialise and online cash traders (Forex Exchange.)