Connect with us

Business

How young IT gurus hack into banks and walk away with cash

Published

on

Young IT graduates have been profiled as the major culprits in the hacking of bank systems.

The graduates, a majority of whom are aged 27 years and below, have been identified as the main suspects in cybercrime cases.The suspects are so well armed with education that players in the banking sector have had to up their game by employing IT experts to try to stop them.

The Central Bank of Kenya (CBK), which has been following the rising cases of cyber fraud, issued a new policy that will require banks to report cases of cybercrime in real time.

The new regulation that came into force last month requires banks and mobile money operators to report to the CBK any cyber-attack within two hours of the incident.

Companies with systems that clear huge amounts of money in bank-to-bank transfers were also directed to immediately file reports with the CBK.Telecommunication companies with systems that move huge volumes of cash, such as mobile money transfer, have also been directed to file reports.

New guidelines

The new guidelines by the CBK come in the wake of increased cybercrime attacks targeting banks and other financial institutions.

Statistics from the Directorate of Criminal Investigations (DCI) Banking Fraud Unit reveal that many of the suspects involved in cases of electronic fraud are well-educated university graduates with an IT background.

The suspects work in cahoots with bank staff who provide them with crucial information about IP addresses.Google defines an IP address as a unique string of numbers separated by full stops that identifies each computer using the Internet Protocol to communicate over a network.

Once they get the IP address, the IT experts can remotely access a bank’s system, including its computers. After corrupting a bank’s system, they are able to transfer money from one account to another.At times, they use mobile money networks to siphon the cash, according to data collected by banking fraud investigators.

The revelations come a day after eight Kenyans believed to be IT graduates were arrested in Rwanda over plans to steal money from an Equity Bank branch.Due to the high number of hacking cases reported to the DCI by banks, a special team of IT investigators has been seconded to the CBK to handle investigations.

The team comprises IT experts from the DCI cybercrime unit and the National Intelligence Service (NIS).The eight, whose identities Rwandan investigators are yet to reveal, were arrested together with four other suspects, including a Rwandan and Ugandan nationals.

“Rwanda Investigation Bureau (RIB) arrested an organised group of eight Kenyans, three Rwandans and a Ugandan over a cyber-fraud attempt on Equity bank,” Rwanda police said on Twitter.“This group was arrested while in the process of hacking into the bank system to steal money from clients’ accounts.”

Police said the same group was linked to another attack on the same bank in Kenya and Uganda.“A case file has been submitted to the National Public Prosecution Authority for further management,” RIB added.

Yesterday, police spokesman Charles Owino told The Sunday Standard that the police have enhanced their IT investigations by training more experts to deal with cybercrime.

“We have trained enough officers to deal with cybercrime-related matters. We now stand a better chance than before to deal with the menace,” Owino said.

Last month, the DCI conducted a swoop on youth suspected to be cybercriminals in parts of Juja and Kabete.During the October 9 operation, DCI officers arrested seven young men believed to be IT experts who are said to have defrauded the public of millions of shillings in a mobile phone hacking scheme.

More than 200 SIM cards, mobile phones and several mobile money transfer agent registers were confiscated.The suspects were described by the DCI on Twitter as aged 28 years and below.Earlier, investigators raided a house in Juja and recovered over 40,000 mobile phone SIM cards and arrested five suspected fraudsters.

by The Sunday Standard

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Plane capacities will not be reduced for social distancing, Transport CS says

Published

on

Transport Cabinet Secretary James Macharia has said airline capacity will not be reduced to observe social distancing rules once domestic and international flights resume.

The CS made the announcement while outlining the protocols the ministry has come up with to curb the spread of Covid-19 in the country during a press briefing on Wednesday at Transcom House in Nairobi.

AIR TRAVEL

This comes at a time the country is preparing to open its airspace for domestic and international flights in the next few weeks.

Macharia said airlines will not have to drastically reduce the number of passengers for them to fly, adding that if they carry less than 75 per cent in their flights, they would incur losses.

He said this will help in revamping the tourism sector, which has taken a hit since the pandemic struck the country in March this year.

“The passengers must go with Covid-19 free certificate. I would expect that if you are flying out, it would be prudent for you to be tested because you may not be allowed into other countries,” he said.

The CS also said an exception would be made for passengers who have to catch a late-night flight.

“If you are flying at night and you show the boarding pass/ticket, you will be allowed to go to the airport with your driver,” he said.

AIR TICKET PRICES

The CS, however, discouraged travellers from having many people escorting them to the airport.

In May, Kenya Airways Chief Executive Officer Allan Kilavuka said the price of air tickets will most likely be hiked if the government allows the national carrier to resume flights.

He indicated that air travel would completely change as every country comes up with new plans and policies to be adapted post coronavirus.

He noted that 55 to 65 per cent of people travel for leisure, which means between May and December airlines are missing out on this big business and income.

“Travel is not going to be cheap. 55-65 per cent of people travel for leisure. Therefore we are going to lose 51-76 per cent of our market between now and December as business travellers are the ones that are going to travel first,” Kilavuka said.

SAFETY MEASURES

The KQ boss noted that among other measures wearing of masks will be mandatory for passengers and crew while airport staff will be required to wear protective gear.

President Uhuru Kenyatta on Monday announced that all international flights shall resume from August 1.

The President also announced the resumption of local flights from July 15 under strict guidelines in the country’s planned phased reopening.

The move comes after three months of suspension of all travels in and out of the country.

The global aviation industry has been massively affected by the coronavirus pandemic with most countries having suspended international flights.

By Nairobi News

Continue Reading

Business

A Breath of New Life at the Fountain of Peace with a Novel Shoal of Fish

Published

on

Gated Communities are supposed to offer absolute life.

We thank God that Amani Ridge the Place of Peace has some brand new occupants in the name of thousands of fish that were recently introduced at the Fountain of Peace water feature adjacent to the magnificent project’s gate.

And now you have a number of things that you can opt to do with this great place that is easily accessible from either Thika Super Highway, Kamiti Road or Kiambu Road:

1. Come and enjoy the great features on this Fountain of Peace. You will enjoy the feeling of the trickling waters on this Fountain. Do not forget to carry your camera.

Take a photo and tag Optiven and you will have a chance to get a free ticket to swim on a warm pool in Kitengela (www.funplace.co.ke)

2. Come with children for them to view the lovely fish whirling leisurely at the base of this Fountain: https://youtu.be/bY0CXivW2N8

This will mesmerize your children as they unwind from their current home environment.

3. Come with your teenagers, carry bikes as Amani Ridge the place of Peace is ready to accommodate you. There is a massive Crescent Avenue where teenagers can really ride as they enjoy the view of Mt. Kenya plus excellent fresh air of Amani Ridge the Place of Peace.

4. Come with your pet dog. Walking your dog at Amani Ridge could just as well end up being an excellent experience.

5. Finally carry the elderly, your parents or your friends. Amani Ridge the place of Peace is not the usual property but it’s a place to unwind and to enjoy tranquility of fresh air. Even if you are not buying, just visit and we will give you a tour around this awesome place in Kiambu.

In case you want to buy one of these prime value added properties, we will give you a solid 6 months interest free window and allow you to pay within 24 months.

Call us today & occupy the best gated, green & fresh environment.

Contact Optiven Group: 0790 300 300 Email: admin@optiven.co.ke Website: www.optiven.co.ke

George Wachiuri Blog: www.georgewachiuri.com
YouTube: https://bit.ly/2VdSuFJ

Continue Reading

Business

VIDEO: Gigantic Security Light Being Installed at the Gate of Amani Ridge the Place of Peace

Published

on

As a follow up to our recently rolled out Sustainable energy agenda, we have started installation of an enormous Solar powered Security Light at the main gate of Amani Ridge the Place of Peace.
This security light, which will be strategically located at the gated community main gate will have 8 lights of 180W and will be raised 10 Meters high. It will also be near the Fountain of Peace: https://youtu.be/FBXrD4miZOI 
The significance of this strategic installation is that the light will not only serve as a security boost but also will be a symbol of abundance to all the families that will settle at Amani Ridge the place of Peace. It will also be a symbol of Light & Brightness in each individual living in, raised or retiring at Amani Ridge the Place of Peace.
Besides, it will also be a symbol that families will not only live at Amani Ridge but that they will THRIVE in a BIG way.
Other than this ongoing security solar light installation, we thank God that the following has been achieved too for the last 60 days:
1. Wall of Peace (800 meters long & 9 feet high) now completed ✅
2. The Wall of Wisdom (700 meters and 12 feet high) now completed ✅
3. The Green Razor wire on Wall of Peace is now completed ✅
4. The Fountain of peace is now done. We allow photos for free on this unique, inspiring Fountain that is a symbol of Peace and our Green Energy commitment at this top Gated Community.
What is ongoing today?
1. The Steel Galvanized 100,000 Litres Tank that will be elevated 15 meters above the ground to enable good water supply
2. We shall commence the Wall of Happiness (700 meters long, 9 feet high)
3. Water draining master idea in the offing. We shall reclaim 5 acres using modern technology
What can you do as a customer?
1. Plant trees or fruits on your plot
2. Fence your plot
3. Bring us a referral – We have less than 40 properties remaining
4. Keep paying your Installments so that you get your title deed
We look forward to an amazing gated community where families will thrive, live abundantly and Enjoy boundless Peace. A place where people will enjoy their retirement years as they walk in green environment, congregate at a state-of-the-art club house and bask under the Kiambu sunshine along the Crescent Avenue. With my plot No 301 already secured, I am going to be one of those people who will enjoy all these abundance.
Your good friend can be your neighbor too. Guide him/her to call Optiven or share their number with us and they will forever remember you. 
Contact Optiven Group: 0790 300 300 Email: admin@optiven.co.ke Website: www.optiven.co.ke George Wachiuri Blog: www.georgewachiuri.com  

Continue Reading


poapay3

Like us on Facebook, stay informed

NEWS TRENDING RIGHT NOW

2019 Calendar

November 2019
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
satellite-communication1.jpg

Trending

error: Content is protected !!