Article by Fin24.com on 2009/07/14

Johannesburg – A R7m scam, allegedly perpetrated by a Vodacom employee, represented a world first in breaching SMS-based (short message signal-based) banking integrity, top security firm Kaspersky Lab has said.

On Monday, a Vodacom technician appeared in the Johannesburg Commercial Crimes Court on charges of fraud and contravening the Electronic Communications Act.

According to The Citizen newspaper, the Vodacom employee, Mbokodana Christopher Khoza, is at the centre of the grift involving R7m. Nedbank, Absa, Capitec, FNB, Standard Bank, and KwaZulu-Natal’s Ithala Bank number among banks affected. Read more »