Standard Bank loses millions in fraud attack
The South African banking operations of Standard Bank Group lost an estimated R300 million after a sophisticated, coordinated fraud incident.
Credit card information was allegedly leaked from the bank and used at over a thousand ATMs in the space of about 2 hours in and around Tokyo, a week ago.
Standard Bank said in a statement, the relevant authorities have been alerted.
"The target of the fraud has been Standard Bank and there has been no financial loss for customers," the bank said.
According to Standard Bank swift action has been taken to contain the matter.
"This is prior to any potential recoveries that may serve to reduce the loss."
It added investigations were at a sensitive stage and further information will be provided as appropriate.