Regal Insurance Loses $50K To Hackers

THREE hackers siphoned $50 000 out of a Zimbabwean insurance company Regal Insurance last year.

A source who spoke on condition of anonymity said three men named Surprise Combo, Shadreck Murwira and Ellison Manyande stole the money electronically by accessing pin codes of the company’s agents.

“The company appears to have a flawed system which saw the trio steal agent PINs and sell insurance,” said the source.

The source said the system was co-run by iCash Zimbabwe.

Seeking confirmation, Regal Operations Director Mr Mapepa, he confirmed indirectly by asking for IT security specialists to help them prevent a further attack.

According to Frampol Africa director Neil Padmore in an interview last year, some local companies in Zimbabwe are soft targets for hackers because they do not invest in IT security.

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