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{
    "id": 94102,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/94102/?format=api",
    "text_counter": 178,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, in fact, the Question that the hon. Member is asking is the very reason why the RTGS system was introduced. That is because the cheque system proved to be very inefficient and it was prone to fraud. There is a clearing house at the Central Bank of Kenya where people used to commit fraud, steal and even replace cheques with fake ones. It used to take a lot of time to know the person who conspired within the banking system to replace and redirect the payment to another account which was not intended. The RTGS system makes it very easy to identify fraud when somebody has stolen. There are specific officers in the banks who have codes and who deal with those transfers. The transaction is instant. It is called “real time” because the transfer is done immediately. Just within seconds, the money appears in the other person’s account. Therefore, you as the customer, who is transferring the money, can know whether the person on the other end has received the money or not. If he has not received it, you can complain immediately. There is only one particular person who deals with those things and, therefore, it is very easy to arrest him or her. That is why the arrests you are talking about have been done. That means that the specific officers have been identified. However, if it was was a cheque system, it would not be easy to identify the person who would have done it within the clearing house. So, that system is meant to increase efficiency and to deal with cases of fraud such as the ones you have mentioned."
}