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.
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
Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg, file.
REUTERS/Siphiwe Sibeko
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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