Zimbabwean Student Faces Court After Allegedly Hacking One of Zimbabwe’s Biggest Banks and Causing Losses of More Than R20 Million
A 24-year-old Zimbabwean Midlands State University (MSU) final-year Computer Science student has appeared in court after being accused of carrying out a sophisticated cyberattack against CABS, one of Zimbabwe’s biggest and most well-known banking institutions.
The student, identified as Sabelo Malunga, is alleged to have exploited his position as an IT intern to gain unauthorized access to the bank’s systems. Prosecutors claim that during his internship, he secretly installed remote-access software on a company-issued laptop and concealed it within the bank’s network infrastructure.
According to investigators, the alleged cyberattack continued even after his internship had ended. Authorities claim the software enabled unauthorized access to banking systems, allowing fraudulent transactions to be processed without detection for an extended period.
The alleged breach was reportedly uncovered after suspicious international ATM withdrawals and unusual electronic transactions raised concerns within the bank. A forensic investigation later revealed multiple malware infections across banking systems and thousands of suspicious transactions that investigators believe were linked to the scheme.
Prosecutors allege that the incident resulted in losses exceeding US$1.1 million, which is equivalent to more than R20 million, making it one of the largest alleged cybercrime cases to emerge from Zimbabwe in recent years.
The case has attracted widespread attention across Southern Africa due to the growing threat of cybercrime targeting banks and financial institutions. Security experts say the allegations highlight the importance of strong cybersecurity systems, internal monitoring and strict controls over access to sensitive digital infrastructure.
Malunga has been charged and remains before the courts. The allegations have not yet been tested in court, and he remains presumed innocent unless proven guilty.
As a South African media platform, we will continue monitoring this high-profile case as it develops, given its potential implications for banking security and cybercrime prevention across the region.