A new report published by Amabhungane alleges that Postbank, a subsidiary of the South African Post Office, has been a victim of cybercrime fraud that involves a large sum of social grant funds stolen from the entity.
According to the report, the security breach which took place between 16 and 28 October last year resulted in the theft of R89.46 million. The incident is alleged to involve the Postbank’s own workers or contractors and the cash was fraudulently transferred to 279 SASSA accounts and withdrawn at ATMs using cards issued by staff. Acting CEO Kevin Maartens joins us now for more on this story.
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