Digital Forensics: Access Forex Loses US$220K As Hackers Wire Themselves Cash Access Forex has been hit by a major financial scandal after cybercriminals allegedly hacked its system and stole US$220,000. The suspects, now facing fraud and money laundering charges, reportedly used the money to fund lavish lifestyles, purchasing vehicles and [...]
Digital Forensics:
Access Forex has been hit by a major financial scandal after cybercriminals allegedly hacked its system and stole US$220,000. The suspects, now facing fraud and money laundering charges, reportedly used the money to fund lavish lifestyles, purchasing vehicles and household electronics.
Two men have appeared in court, accused of hacking into Access Forex and siphoning thousands of dollars.
According to NewsDay, Ngonidzashe Lison Dhubiyo (29) and Terrence Mashumba (38) were brought before Harare magistrate Isheunesu Matova, facing charges of fraud and money laundering. According to prosecutors, the two allegedly worked with a third suspect, Tinashe Jonah Sithole, who is still at large.
Prosecutor Rufaro Chonzi told the court:
“The accused persons fraudulently gained access to the complainant’s money remittance platform.”
The company, represented by its auditor Patson Makina, discovered the fraud after conducting an internal audit.
Both suspects were remanded in custody pending their bail hearing.
The court heard that the accused allegedly manipulated the system from January to October 2023, creating fraudulent transactions that appeared to be international remittances from the United Kingdom.
Instead of genuine transactions, the accused reportedly diverted the money to their own mobile money accounts in Zimbabwe and withdrew it at different Access Forex branches.
Chonzi explained:
“The accused persons sent money to themselves and collected a total of US$220,065.”
Authorities revealed that the money was spent on personal luxuries, including expensive electrical appliances and vehicles.
Access Forex launched an internal investigation after noticing anomalies in its system. The probe led to the identification of the fraudulent transactions and the subsequent arrest of the two men in Mutare.
Police recovered two vehicles—a Toyota Hiace and a Nissan Note—which were allegedly purchased using the stolen funds.
The case is still under investigation, and law enforcement officers are actively pursuing the third suspect.
Tim. E. Ndoro
Timothy Ndoro is an enthusiastic storyteller, budding photographer, and aspiring author. By day, he works at iHarare.com where he is able to take his passion for learning and exploring the world around him and share it with the world. His thirst for knowledge and the insatiable need to understand everything has led him to become a polymath, and his goal is to one day be referred to as such.
From words to images and video, he loves to capture and document the world around him and share his experiences. He is never without a book in his hand and is always picking up and learning new skills and arts.
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Digital Forensics: Access Forex Loses US$220K As Hackers Wire Themselves Cash Access Forex has been hit by a major financial scandal after cybercriminals allegedly hacked its system and stole US$220,000. [...]
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