Nairobi - The capital markets reported nearly a 20 per cent rise in fraud cases last year even as the anti-fraud unit continued to make recoveries of money and shares lost through such malpractice. According to the Capital Markets Authority (CMA) financial reports for the year ended June 30, last year, Capital Markets Fraud and Investigation Unit (CMFIU) – the institution set up by CMA to handle fraud cases – reported handling 460 cases of economic and cyber crimes compared to 390 cases the previous year. Of the reported cases, CMA recovered Sh25.4 million in cash paid to clients and reinstated shares compared to 2010 when the institution recovered only Sh7.5 million.
