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Meet the man police link to Safaricom, NIC Bank frauds
Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Lolest! wrote: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?
BBI will solve it :)
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Rank: Member Joined: 1/30/2016 Posts: 332 Location: Rift Valley
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2012 wrote:
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?
Kenyan banks usually write off thefts as complete losses for the sake of discretion. In this case I however suspect billions is a bit of an exaggeration.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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chemirocha wrote:2012 wrote:
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?
Kenyan banks usually write off thefts as complete losses for the sake of discretion.
In this case I however suspect billions is a bit of an exaggeration. 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'.
BBI will solve it :)
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Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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chemirocha wrote:2012 wrote:
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?
Kenyan banks usually write off thefts as complete losses for the sake of discretion. In this case I however suspect billions is a bit of an exaggeration. Since monies are usually stolen from client's accounts,I suppose they are paid by insurance. Meanwhile the mention of hacking,IEBC and elections is fishy at this time.Further mention pf son and daugter of seniour politicians makes it fishier. There has been a narattive of stealing elections by hacking into the servers.........any link?? Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Member Joined: 1/30/2016 Posts: 332 Location: Rift Valley
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2012 wrote:chemirocha wrote:2012 wrote:
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?
Kenyan banks usually write off thefts as complete losses for the sake of discretion.
In this case I however suspect billions is a bit of an exaggeration. 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.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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That story still baffles many. Some politicians still believe that magic happened and i think they were still conned by this guy a second time "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 7/17/2011 Posts: 627 Location: Mbui-Nzau, Kikumbulyu
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murchr wrote:That story still baffles many. Some politicians still believe that magic happened and i think they were still conned by this guy a second time  sudo apt hack command ..the greatest nonesense i ever saw
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Rank: New-farer Joined: 1/21/2015 Posts: 78 Location: Pare Pare
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Rank: Elder Joined: 10/4/2006 Posts: 13,823 Location: Nairobi
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maka wrote:murchr wrote: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.
Crazy stuff.... 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. All Mushrooms are edible! Some Mushroom are only edible ONCE!
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