Sabelo Malunga, a final-year student who previously worked as an IT intern at CABS, appeared before the Harare Magistrates Court facing one count of hacking. The post MSU student accused of hacking CABS, siphoning US$1.1m appeared first on newsday .
HARARE, Aug. 31 (NewsDay Live) — A 24-year-old Midlands State University (MSU) Computer Science student has appeared in court accused of hacking CABS systems and siphoning more than US$1.1 million through fraudulent electronic transactions.
Sabelo Malunga, a final-year student who previously worked as an IT intern at CABS, appeared before the Harare Magistrates Court facing one count of hacking.
He was remanded in custody pending a bail application. He has not pleaded to the charge, and the allegations have not been tested in court.
Prosecutors allege Malunga gained access to CABS’ computer systems while working as an IT intern at the bank between November last year and Feb. 23 this year.
The State alleges that on Jan. 23, Malunga used a CABS-issued laptop to download Supremo, a remote-access application, without authorisation and concealed it within system files to evade detection.
Prosecutors allege he continued accessing the bank’s systems remotely after his internship ended and used the software to bypass internal controls and generate fraudulent ZIPIT and Visa transactions.
The alleged breach came to light on March 27 when Visa flagged two suspicious international ATM transactions, according to the State.
CABS subsequently blocked the affected accounts, but prosecutors say the bank had already lost US$210,500.
Further investigations on April 13 allegedly uncovered malware infections on several CABS servers.
Investigators subsequently identified 1,911 allegedly fraudulent ZIPIT transactions worth US$925,679, with the funds allegedly channelled into EcoCash, InnBucks, CBZ and Ecobank accounts.
CABS then engaged South African digital forensics firm MWR to investigate the breach and remove the malware, according to prosecutors.
The State alleges the forensic investigation linked Malunga to the intrusion.
Prosecutors allege the malware was used to generate fraudulent transactions, circumvent authorisation controls and create fictitious transfers, including fake telegraphic transfer instructions.
According to the State, CABS suffered an actual loss of more than US$1.1 million, with none of the money recovered.
Malunga remains in custody pending his bail application.
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