Telecom Signaling Industry News

TMCNet:  Hawks hunt cyber heist suspects [ITWeb]

[June 19, 2014]

Hawks hunt cyber heist suspects [ITWeb]

(ITWeb Via Acquire Media NewsEdge) A syndicate reportedly used key-logging hardware installed by insiders to hack into an RTMC bank account.

Five arrests have been made and more are expected to follow as the Hawks continue an investigation into a cyber crime attack that saw millions of rand being stolen from a Road Traffic Management Corporation (RTMC) bank account last month.

According to Hawks spokesperson Captain Paul Ramaloko, five suspects – a married couple and three other individuals – were arrested last week and appeared in court on Friday. They have been released on R2 000 bail each.

Ramaloko says the five suspects, which are part of a syndicate currently under investigation, spent an amount of R8.7 million before being arrested.

"The money was looted on 5 May and immediately brought to our attention. The investigation got underway and we managed to apprehend five of the syndicate within about a month. There will definitely be more arrests." He says the investigating team is tackling the crime "bit by bit" and will hold all the beneficiaries of the stolen money to account. "The money was initially transferred to 21 beneficiaries and from there secondary and tertiary beneficiaries were created. All accounts have now been frozen." Ramaloko says the couple was arrested in Centurion, while the other three individuals were apprehended at their homes in Soshanguve and Mamelodi.

According to a report by Times Live ( today, the syndicate used hi-tech software to hack into the RTMC account after "rogue insiders" installed key-logging hardware on computers used for online banking.

"The elaborate cyber crime, which the police believe involves employees of foreign exchange dealers agencies and banks, was discovered last month when an alert employee noticed the missing funds and notified management," says Times Live.

The report says the five said suspects went on an R8.7 million spree across Gauteng, spending their loot on Apple products, watches and jewellery, airline tickets and sound systems.  (c) 2014 ITWeb Limited. All rights reserved. Provided by SyndiGate Media Inc. (

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