IT governance: Time for inward checks in system security fraud war

The danger posed by internal breach could result into far-reaching impacts, not only in financial losses, but also critical data leakages.

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Recent media reports that Kenya’s second largest financial institution by asset base, Equity Bank, has suffered a Sh1.5 billion heist in a suspected insider job have pointed to the need for organisations to shift the deployment of their system protection gears to guard against internal breaches.

The money which was meant for employees’ salaries, is said to have been transferred to multiple accounts in other banks.

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Note: The results are not exact but very close to the actual.