Treasury Warns Kenyans Against Fake Online Govt Investment Scheme Targeting T-Bills, Bonds & Crypto

Treasury Warns Kenyans Against Fake Online Govt Investment Scheme Targeting T-Bills, Bonds & Crypto

The National Treasury has issued a sharp warning to Kenyans after a fake online investment scheme went viral.

The fraudulent advert, widely circulated on Monday, September 1, promised quick and guaranteed returns. It claimed to offer Treasury-backed investments blended with crypto products.

The scam invited Kenyans to invest between Ksh10,000 and Ksh50,000 with unbelievable returns in less than three hours.

Treasury Strongly Denies Involvement

Officials quickly dismissed the notice, urging Kenyans to ignore it.

“Treasury. It is FAKE. Kindly ignore it and do not share further,” the ministry warned in a statement.

The fake notice even promised “online investment sessions” under Treasury’s name to lure unsuspecting citizens.

Red Flags in the Scam

One major red flag was the inclusion of a personal WhatsApp number for enrolment. Participants were asked to register immediately and send money directly.

The offer also promised fixed profits, something experts say is a hallmark of fraud.

In reality, legitimate government securities are only managed by the Central Bank of Kenya (CBK) under strict procedures.

These products usually come with clear details and timelines. They are only advertised through official gazette notices and government publications like My Gov.

Treasury Reminds Public of Procedures

Officials emphasized that genuine investment opportunities never require third-party registrations or suspicious charges.

“Government securities follow structured channels. Do not be deceived by shortcuts promising instant wealth,” Treasury officials noted.

They also urged Kenyans to remain alert and to verify every investment through CBK or authorized institutions.

Online Fraud on the Rise

The warning comes barely a week after Treasury terminated 20 open framework tenders advertised in December 2024 and March 2025.

These tenders covered supplies ranging from newspapers and agricultural equipment to timber and insecticides. They were cancelled under Section 63 of the Public Procurement and Asset Disposal Act, 2015.

The rise of fraudulent notices has heightened concerns that scammers are exploiting Kenyans’ trust in government-linked opportunities.

Public Urged to Report Scams

Authorities are now calling on the public to take part in fighting the fraud menace.

“We encourage citizens to report suspicious schemes to the Capital Markets Authority (CMA) or law enforcement,” Treasury added.

Kenyans are urged to remain vigilant and avoid falling prey to scammers who target financial desperation with false promises.

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Treasury Warns Kenyans Against Fake Online Govt Investment Scheme Targeting T-Bills, Bonds & Crypto