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South Africa's Standard Bank Taking Action After Atm Heist In Japan


Ron Burgundy
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Customers queue to draw money from an ATM outside a branch of South Africa's Standard Bank in Cape TownSouth Africa's Standard Bank is taking action after criminals in Japan stole millions of dollars from automatic teller machines using fake credit cards from the lender, its joint CEOs said on Thursday. The criminal gang made 14,000 withdrawals in just three hours from bank machines at 7-Eleven convenience stores across Japan on May 15, withdrawing 1.4 billion yen ($13 million), according to a source familiar with the matter. The bank's co-Chief Executive Sim Tshabalala told Reuters on the sidelines of the bank's annual general meeting that the matter was "serious" but declined to comment further.




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