In South Africa Central bank demands tighter cyber security after Japan ATM heist

The gang used the fake cards to withdraw 1.4 billion yen ($13 million) in 14,000 transactions from ATMs at 7-Eleven convenience stores over three hours on a Sunday morning

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Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg, file. REUTERS/Siphiwe Sibeko play Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg, file. REUTERS/Siphiwe Sibeko
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South Africa's central bank said on Tuesday it would push local banks to upgrade their cyber security after criminals used counterfeit Standard Bank cards to withdraw millions of dollars from ATMs across Japan.

The gang used the fake cards to withdraw 1.4 billion yen ($13 million) in 14,000 transactions from ATMs at 7-Eleven convenience stores over three hours on a Sunday morning, according to a source familiar with the matter.

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