Reports from South Africa suggest that a cybercrime syndicate there has defrauded the government of more than £12.8m in a series of spyware infection-driven frauds.
The frauds, over a three-year period, were revealed on 10 June by the South African minister for finance and economic development. They have led to 32 arrests in connection with more than 80 alleged counts of fraud.
The cybercrime spree is said to be the largest ever discovered in South Africa.
Geoff Sweeney, CTO with IT security supplier Tier-3, said, "The evolution of malware has reached the point where the lines are blurring between viruses, trojans and what we call multi-vector IT security threats.
"These fraudsters appear to have been using a sophisticated combination of attacks that consisted of a physical device and a malware component, as witnessed by the fact they have been getting away with their crimes for nigh-on three years," he said.
To tackle such attacks, Sweeney said organisations should consider installing multiple layers of defence, including looking at behavioural analysis technology, which can look for abnormal patterns of hardware change or network behaviour.