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The Hawks says two Eskom employees were among three people who appeared in court this week for allegedly defrauding Eskom.
Hawks spokesperson, Captain Paul Ramoloko, says potential losses to the parastatal could have run into billions of rands.
He says the alarm was raised when Eskom investigators picked up on suspicious fraudulent activities in their information, technology section.
It's alleged that they had interfered with Eskom's payroll network system which would have compromised billions of rand.
Ramaloko told Algoa FM News that they believe the three are part of a bigger syndicate.
"The 3 suspects who are employees of Eskom were arrested by the Eskom officials, the Hawks, and Crime Intelligence officials during a weekend operation. They appeared in the Specialised Commercial Crimes Court in Johannesburg on Monday" he said.
It was the second time that the Hawks foiled a cyber heist. On November 12 they arrested a former employee of the Gautrain Management Agency for a similar crime.