New Years PostBank Heist

A well planned and coordinated bank robbery was executed during the first three days of January in Johannesburg, leaving the targeted South African Postbank, part of the nation’s Post Office service, with a loss of approximately $6.7 million, just as the Postbank sought to become a separate entity and get a full banking licence from the Reserve Bank, allowing it to compete with commercial banks while remaining state-owned.

The perps behind the heist appeared very well informed about the post office’s IT systems, and began preparing the ground for the heist a few months before by opening accounts across the country, and by compromising an employee computer in the Rustenburg Post Office.…r42m-postbank-heist