A cyber-crime syndicate is believed to have defrauded the South African government of more than £12.8m in a series of spyware frauds.
The fraud went undetected for three years.
The fraudsters appeared to use 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, according to Tier-3.
Geoff Sweeney, chief technology officer at IT security vendor Tier-3, warned that, in common with more sophisticated IT security attacks, frauds of this nature are very difficult to stop using a traditional single line of defence.
"Companies need to rethink their strategy in the light of the increasing sophistication on the part of the fraudsters," he said.
Worried about data privacy? Here are several ways to secure your Facebook account
The ICO is seeking an urgent warrant to investigate a major data breach - everything you need to know as the story continues to unfold
Microsoft comes up with a new way to foist its unloved and little used Edge web browser on people