CYBER HEIST EXPOSED: Government’s Embarrassing Failures Exposed in Postbank Heist
The Postbank cyber heist, which saw R109-million stolen from vulnerable social grant beneficiaries and ordinary South Africans, has revealed the shocking incompetence of the government’s IT systems and lack of accountability.
Criminals Had the Run of the Show
KPMG’s investigation into the heist revealed that the criminals had access to critical IT systems, allowing them to inflate the balance of targeted accounts, delete logs, and then withdraw funds using cloned cards and "runners" to withdraw funds from over 20,000 transactions at 1,700 ATMs.
Government Officials Complicit in Heist?
The report raised serious questions about the roles and responsibilities between Postbank and the South African Post Office, with insiders revealing that some government officials were aware of the scheme and did nothing to stop it.
Weak Security Systems
KPMG’s investigation exposed a laundry list of security weaknesses, including:
- A flat network with no segregation of zones
- Inappropriate user access management
- Lacking skills among key personnel responsible for managing the environment
- Poor allocation and access management of APNs
- Direct access to the IGPS database allowed, with no monitoring
Criminals Still at Large
Communications minister Solly Malatsi has referred the KPMG report to the Hawks, but it’s unclear whether the perpetrators will ever be brought to justice. The government’s slow response to the heist has left many questioning its commitment to fighting crime and protecting citizens.
Shocking Consequences
The heist has left ordinary South Africans and vulnerable social grant beneficiaries without their hard-earned savings. The government’s failure to secure its IT systems has consequences that go far beyond mere financial losses.
Questions Remain
The Postbank cyber heist is just the latest example of the government’s incompetence and lack of accountability. Will anyone be held responsible for this massive heist?
