Reports: SA bank embroiled in R200m fraud scam in Japan
It’s believed that about 100 people may have been involved in as many as 14,000 transactions.
JOHANNESBURG - There have been overnight reports that credit card information leaked from a South African bank has been used in a fraud scam valued at more than R200 million in Japan.
It's also reported that local authorities have been brought in to help unravel the scheme and bring those responsible to book.
The money was stolen through a series of coordinated ATM and convenience store withdrawals.
Japanese media is reporting that more than 1,000 ATMs were used in a space of about two hours to complete the fraudulent withdrawals earlier this month.
It's believed that about 100 people may have been involved in as many as 14,000 transactions.
Sources have told Japanese media that 1,600 credit cards issued by one South African bank were used to commit the fraud.
It's not yet clear which South African bank could be involved.
South African authorities are yet to comment.