[Stoat]

According to the currency converter at XE.com,

here is the damage as expressed in US dollars as of this moment:

 

10,500.00 ZAR South Africa Rand	=	1,494.53 USD United States Dollars
1 ZAR = 0.142336 USD		1 USD = 7.02561 ZAR

It's not exactly a "King's Ransom", but it's more a matter of principle....if they have broken the encryption at this South Africa bank, it begs the question of what sort of encryption are they using and is it similar to what's being used at US or UK banks.

We are frequently told that the encryption used at US banks would require a massive amount of time and computing power to crack, and hopefully that's true.

 

[ncountylee]

Possible "inside" job.

[stainlessbanner]

I think most ecommerce transactions use 128-bit, FedGov classified uses 256-bit AES. Neither have been compromised.

Of course, if somebody steals a laptop without protection or has access to client keys with authority, the encryption strength doesn't matter.

[308MBR]

Nigerian business schemes weren't bad enough, and now this.

More typical behavior from the Chocolate Continent. Mayor Nagin, Mugabe and Jesse should feel proud.

[garylmoore]

Sounds like an inside job to me.

[SoCalPol]

ping