Regulator sounds alarm bells over Ithala’s ‘outdated’ systems
Prudential Authority ramps up tension with Ithala over security
17 September 2024 - 05:00
The Prudential Authority (PA) says Ithala’s “outdated” banking system has made the institution susceptible to cyberattacks — with tension between the regulator and the state-owned entity boiling over.
The PA in its presentation to the parliamentary standing committee on finance, dated September 4, said Ithala had been operating an outdated core banking system that was discontinued several years ago and was not supported by the developer...
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