Tinotenda Hove- A Midlands State University final-year Computer Science student has been arrested and brought before the courts over allegations that he used malicious software to siphon more than US$1.1 million from CABS.

Sabelo Malunga, 24, is accused of exploiting his access to the bank’s computer infrastructure during a period when he was working there as an IT intern between November last year and February 23 this year.

According to the State, Malunga allegedly used a CABS-issued laptop on January 23 to secretly install SUPREMO, a remote-access program, without obtaining permission. Prosecutors claim he concealed the software within system files in an attempt to prevent it from being detected.

The State alleges that Malunga maintained access to the bank’s systems even after his internship had ended. The remote-access software allegedly enabled him to circumvent internal security controls and initiate fraudulent ZIPIT and VISA transactions.

The alleged breach came to light on March 27 after VISA detected two suspicious international ATM transactions. CABS subsequently blocked the affected accounts, but the bank had reportedly already incurred losses of about US$210,500.

A subsequent investigation by the bank’s information technology department on April 13 allegedly uncovered several malware infections within its servers.

Investigators reportedly identified 1,911 unauthorised ZIPIT transactions valued at US$925,679. The money was allegedly transferred through various financial platforms and institutions, including EcoCash, InnBucks, CBZ and Ecobank.

CABS later hired South African digital-forensics firm MWR to conduct a more extensive investigation and assist in removing the malicious software from its systems.
According to the State, the forensic examination allegedly connected Malunga to the cyber intrusion.

Prosecutors further allege that the malware was used to circumvent transaction-approval mechanisms, initiate fictitious transfers, process fraudulent transactions and generate false telegraphic transfers.

The bank’s total alleged financial loss has been put at US$1,136,179, with the State telling the court that none of the money has so far been recovered.
Malunga is facing a hacking charge and was remanded in custody pending a bail application