South African Railways sinks $1M in phishing scheme

TLDR: South African Railways lost over $1 million in a phishing scam, with just over half of the stolen funds recovered so far. The railway agency, PRASA, experienced a cyber attack through phishing, resulting in a loss of 30.6 million rand. The agency has opened a criminal case and is still in the process of recovering the remaining balance. The attack may have involved an employee creating ghost accounts to embezzle the money. Email interception fraud is on the rise in South Africa, and phishing scams remain a significant issue in the region. Railway networks and transport systems are facing cyber threats that target their operational integrity and data security, including ransomware attacks and data-related threats. Collaborations between railway operators and technology specialists are being formed to strengthen cybersecurity resilience.