The South African Postbank is to spend R400 million over the next three years to upgrade and modernise its IT systems. Click here for the full story➡️
The South African Postbank is to spend R400 million over the next three years to upgrade and modernise its IT systems.
This is after the state-owned entity lost more than R18 million over a three-month period to cybercrime attacks.chief executive Lucas Ndala told parliament’s portfolio committee on communications that it had “a number of cyberfraud incidents – most of them relating to the SA Social Security Agency beneficiary grant payment system”.He said the accounts of 141 grant beneficiaries were hit in a cyberattack in August. The state-owned entity lost R5.8 million in this incident.
Nonkqubela Jordan-Dyani, acting director-general in the department of communications and digital technology, said: “There needs to be consequence management because these are public funds.”
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