Cyber criminals targeted SA Post Office and stolen more than 42 million user details financial institution Postbank. The theft occurred between 1 and 3 January, and was allegedly committed by a syndicate with knowledge of the post office's information technology (IT) system, confirmed by Department of state security spokesman Brian Dube.
The National Intelligence Agency (NIA) has launched a high-level probe after this data breach. According to NIA spokesman "When a government institution is compromised, the NIA will be involved and will offer its assistance" Postbank currently holds over 4-billion in deposits, and processes millions of rands in social grants throughout the year. The bank told that none of its customers were effected by the hacking, but declined to comment further.
Over the next three days, automated teller machines (ATMs) in Gauteng, Free State and KwaZulu-Natal were used to withdraw cash from the accounts. The incident comes three years after Postbank spent over $15-million to upgrade its fraud-detection service. But that investment seems zero valuation. An unnamed security expert told that "The Postbank network and security systems are shocking and desperate need of an overhaul. This was always going to be a real possibility".
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