South African ‘hacker’ arrested for fraud

Risk staff
01 Nov 2006

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Regulation

Using spyware software, according to authorities the man was able to take the details of personal banking transactions from computers, transfer them through a file server in Estonia, then retrieve them and use them to log into internet accounts.

In conjunction with Standard Bank and a UK-based security consultancy, the South African authorities are now set to head after the ‘big guys’, according to advocate Gerhard Nel of the Scorpions.

Incidents have to date been reported in Johannesburg, Pretoria and Cape Town.

All of South Africa’s large banking institutions have been affected, according to press reports.

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