Hefty jail sentences have been handed down to three suspects involved in the recent R43 million Postbank cyber heist.
The Postbank, in early January, said a cyber crime syndicate stole about R43 million. Three people were arrested in January and the SA Police Service (SAPS) is still chasing further suspects.
Last week, the Hoopstad Magistrate's Court, in the Free State, handed down a 15-year sentence to Teboho Donald Masoleng. The SAPS says he was part of a gang that hacked into the Postbank system and transferred R43 million into different accounts, from 31 December 2011 to 1 January 2012.
Masoleng was arrested in Welkom, on 12 February, and charged with fraud to the value of R43 million. Upon arresting him, police confiscated a Mini Cooper, which he had bought using some of the loot stolen during the heist.
Masoleng appeared before a magistrate in Hoopstad last week, and pleaded guilty to charges of fraud.
Two other suspects, Morosi David Motsoane and Boy Thekiso, have also been sentenced to 15 and 25 years, respectively. Colonel McIntosh Polela says this is the end of the line for these three, but more suspects will be hearing from the SAPS soon.
Avoiding repeats
The police have been handling the crime, along with the National Intelligence Agency. The incident is also being investigated by KPMG.
Furthermore, the Department of Communications is reviewing the systems at the Postbank to avoid repeat incidents. Former Democratic Alliance shadow communications minister Natasha Michael previously called on communications minister Dina Pule to implement emergency measures and tighten security to protect the poor from incidents like this.
The Postbank is attempting to become a fully licensed bank so that, while remaining state-owned, it may compete with commercial banks.
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