SA’s Postbank loses USD5m


Image: By BiztechAfrica
SA’s Postbank loses USD5m

Cyber criminals are reported to have stolen over USD5 million from South Africa’s Postbank.

Postbank is a financial services division of the SA Post Office, offering savings, electronic transfers and online banking, among other services.

SA’s Sunday Times reports that a syndicate of criminals managed to access the service’s systems, increase withdrawal limits and withdraw over USD5 million from ATMs in various provinces over just three days while the offices were closed for the New Year.

The authorities are reported to have launched a high-level investigation.

Share the News

Get Daily Newsletter

comments powered by Disqus


Virtualisation in the age of smart data

Actifio solution strategist Gareth Donald discusses virtualisation in the age of smart data: the next frontier on the march to the cloud. Read More

SATA confers on customer service and billing

The Southern African Telecommunications Association (SATA) held a Customer Service, Quality of Service (Qos) and Billing Conference.  Read More

Study: Payments industry in flux

A new study indicates that cards will account for 273 billion transactions at a combined value of some US$30 trillion by 2018, but as mPOS grows, new forms of payment will flourish.  Read More

Nissan parades ‘ICT built’ brand in Malawi

Nissan has paraded its brand new 2015 y62 Patrol Ti series in Malawi, which is said to have taken advantage of ongoing ICT innovations and features built-in navigation and digital entertainment. Read More

Digital fuels growth in Africa’s entertainment and media industry: PwC report

African entertainment and media industry has entered a new landscape – one where the media is no longer divided into distinct traditional and digital spheres, according to a report from PwC. Read More

Deloitte unveils Tech Trends 2015

The sixth annual Deloitte Tech Trends report examining disruptive technologies with the best potential to impact businesses within the next 18 to 24 months, will be released in Johannesburg today. Read More

Microsoft promotes Africa’s innovators through DEMO Africa 2015

Using the Demo Africa platform as a veritable vehicle for the development of African innovators, Microsoft, under the 4Afrika Initiative, has confirmed its support for the upcoming DEMO Africa event in Lagos.  Read More

NITDA affirms confidence in DEMO Africa 2015

Nigeria’s National Information Technology Development Agency (NITDA) has affirmed its confidence in the ability of the DEMO Africa forum to become the continent’s rallying ground to discover technology leaders and entrepreneurs. Read More

Alcatel-Lucent VP calls for collaboration to achieve Data Revolution in Africa

The Vice president of Alcatel-Lucent Africa, Daniel Jaeger, has reiterated the need for African stakeholders to work together to address challenges in the way of ICT development in Africa.  Read More

Gartner's 2015 Hype Cycle for ICT in Africa points to growing importance of digital business

Gartner's "Hype Cycle for ICT in Africa, 2015" report identifies over 30 key technologies and describes how they will impact business performance during the next 10 years.  Read More


Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika


Innovative designer takes e-waste to another levelInnovative designer takes e-waste to another level

Gladys Muyenzelwa is a Gaborone based artist and designer who has an eye for ethnic and contemporary design. But unlike other designers, Muyenzelwa has found a way of using e-waste to make her creations. 


High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.


Luba Freeport streamlines its sea of paper with Sage X3

Luba Freeport has implemented the Finance and Distribution modules of the Sage X3 business management solution to automate its business processes across finance and operations.