An information technology specialist has been charged with stealing over Sh21 million from two local banks.

Hiram Kiragu Mbuthia, who is also a director at Gama Solutions Enterprises Limited, denied four counts of stealing from the Housing Finance Limited (HF) and the Diamond Trust Bank (DTB).

In the Housing Finance case, Mr Mbuthia was accused of stealing Sh7.5 million on January 20, 2015 while the second count stated that he stole Sh9.5 million the following day.

He also faced a third indictment of conspiring to steal Sh17 million from HFCK

http://www.businessdaily...2/-/1cjledz/-/index.html

Smart boy- while wazuans spend their time in blue section on how to make money

Kenya Revenue Authority, several blue-chip banks, a parastatal and a supermarket chain are some of the institutions penetrated by an international cybercrime syndicate that took off with hundreds of millions of shillings – before they were all seized on Monday and Tuesday.

Working with insiders and relatives of “prominent politicians”, the crooks had formed an international band that installed malware into the systems that allowed them to take control of the institutions’ computers and steal what police sources said would run into hundreds of millions.

Security reports, seen by Nation, also indicate that the group were “conspiring to manipulate the IEBC system during the elections” and had been working with relatives of senior politicians which gives the syndicate some political angle too.................................................

How much damage they have left in their wake is unknown, but police say the leader of the cyberheist gang is 35-year-old Calvin Otieno Ogalo, a former police officer and bank employee, who on Saturdays turns into a devout SDA patriot and choir member but worked as a bank hacker every other day between 3pm and midnight.

....................................................... Police sources say that Mr Ogalo is thought to have previously hacked the Independent Elections and Boundaries Commission system and KenCall servers during the last general election.

“There are fears that Ogalo and his network might be targeting the IEBC in the coming August 2017 elections after a Russian male joined the network,” says the report.
At the moment, Mr Ogalo has five pending criminal cases relating to banking fraud and forgery.

Interesting stuff but these days you can't be 100% safe. Hackers all over

Very true. Plus the hackers are mostly more skillful and motivated than the usual employed software developers.

My wonder though is, if banks are losing billions to hackers and thiefing employees (and we know they are), under what item are they hiding/reporting these amounts in their published balance sheets, p&ls?

I don't think it's exaggerated. I have a friend in one of the large banks, he told me that about 6 young employees were under investigation for stealing 3.2b in under 2 years through manipulating the system. I know it's true because the system was overhauled immediately after and I saw their 'system upgrade' ads in the papers. That's when I knew what system upgrade in banks mean. I'd always wondered why they keep 'upgrading'.

3.2 billion is a massive loss! And the way that entire industry is run, they will never admit that theft occurred.

sudo apt hack command ..the greatest nonesense i ever saw

this video cannot get old!!

privilege escalation

Kama hawa ndio "hackers" tuko na shida!
plus the video is titled "data base..." a tell tell sign that the fellow who was impressed enough to upload it was clueless! kinda like the mzungu who greats you using the words 'Jambo bwana!' you immediately know he/she is not from around here.