MSU Student Arrested For US$1.1m Cybertheft After Hacking CABS
CABS Cybertheft Case: MSU Student Faces US$1.1m Hacking Allegations
A Midlands State University (MSU) final-year Computer Science student has appeared in court over allegations that he used malware and remote-access software to siphon more than US$1.1 million (about R18.4 million) from Central Africa Building Society (CABS).
Sabelo Malunga, 24, appeared before Harare regional magistrate Francis Mapfumo facing a hacking charge. He was remanded in custody until Monday, 31 August 2026, for his bail application.
The allegations stem from the period when Malunga was working as an Information Technology intern at CABS between November 2025 and 23 February 2026.
The State, led by Blessed Songozo, alleges that Malunga exploited access obtained during his internship to interfere with CABS banking systems and facilitate fraudulent transactions.
CABS Cyberattack Allegedly Started With Remote-Access Software
The Herald reports that CABS began investigating suspicious activity after Visa flagged two international ATM transactions involving CABS-issued debit cards on 27 March 2026.
The bank allegedly blocked the affected accounts, but had already suffered actual prejudice of US$210,500 (about R3.4 million). The court heard that none of the money from those transactions had been recovered.
A deeper internal investigation on 13 April allegedly uncovered multiple malware infections on CABS servers.
The State alleges that the malware was being used to create fraudulent ZIPIT transactions and inject them directly into Zimswitch, allowing the transactions to bypass CABS’ internal controls.
“The malware was creating new ZIPIT transactions and injecting them directly into Zimswitch.”
A subsequent reconciliation allegedly identified 1,911 fraudulent ZIPIT transactions valued at US$925,679 (about R15 million).
The transactions were allegedly sent to several financial platforms and institutions, including EcoCash, InnBucks, CBZ and Ecobank.CABS subsequently engaged South African digital forensics company MWR to contain the suspected malware, investigate the breach and determine how the systems had been compromised.
Student Allegedly Maintained Access After Internship
The prosecution alleges that Malunga downloaded an application called SUPREMO onto a company-issued laptop on 23 January 2026 without authorisation.
According to the State, he allegedly concealed the programme within system files to prevent it from being detected.
SUPREMO is a remote-access tool. Prosecutors allege it gave Malunga the ability to access CABS systems remotely.
The State further alleges that the access continued after his internship ended on 23 February.
Investigators allegedly found evidence linking Malunga to the cyberattack during the subsequent forensic examination.
He is accused of installing malware that allegedly facilitated unlawful transaction authorisations, fraudulent ZIPIT transfers into Zimswitch, fictitious transactions routed through an Ecobank integration and the creation of fake telegraphic transfers.
The State alleges that the combined fraudulent activity resulted in CABS suffering actual prejudice of US$1,136,179 (about R18.7 million).
No money has been recovered so far.
Info News
Contested Divorce Attorney: What Happens When Spouses Cannot Agree?
A contested divorce attorney helps when spouses cannot agree on custody, support, property, debt, or other major issues.
rnrn
Contested divorce can involve court hearings, discovery, financial disclosures, mediation, expert witnesses, and trial preparation.
rnrn
Common disputes include who keeps the house, how retirement accounts are divided, parenting schedules, child support, spousal support, and business valuation.
rnrn
A lawyer can gather evidence, negotiate settlement, file motions, and represent you in court.
rnrn
Contested divorce can be stressful, but many cases still settle before trial. Mediation may help both sides reach agreement.
rnrn
If settlement is impossible, the judge will decide unresolved issues.
rnrn
A contested divorce requires preparation and strategy. Legal guidance can protect your rights and help you avoid costly mistakes.
rn
Student Loan Refinancing: Smart Financial Strategies for Graduates
Student loan debt continues to affect millions of graduates worldwide, making refinancing an attractive option for borrowers seeking better repayment terms. Student loan refinancing combines existing loans into a single new loan with updated interest rates and repayment conditions. Many borrowers refinance to reduce monthly payments, simplify debt management, and lower overall interest costs.
rnrn
Private lenders often offer competitive refinancing rates to borrowers with strong credit histories and stable income. Some lenders also provide flexible repayment schedules, autopay discounts, and personalized loan terms designed to support long-term financial planning. Graduates working in high-income professions may qualify for lower interest rates that significantly reduce repayment costs.
rnrn
Borrowers should carefully consider the differences between federal and private student loans before refinancing. Federal loans often include valuable benefits such as income-driven repayment plans, deferment options, and loan forgiveness programs. Refinancing federal loans into private loans may eliminate access to these protections permanently.
rnrn
Financial advisors recommend comparing multiple lenders, reviewing loan conditions carefully, and understanding long-term repayment obligations before refinancing student loans. Responsible debt management and consistent payments can improve financial health while reducing financial stress for graduates and working professionals.
rn
