JOHANNESBURG, South Africa–A South African bank reportedly was hit by criminals more than 10,000 miles away who were able to steal $13 million from ATMs using fake South African credit cards.
According to authorities, the thieves forged approximately 1,600 fake cards to make withdrawals from approximately 1,400 individual ATMs across Japan. It is believed the thieves used data stolen from the South African Standard Bank Group to create the stolen cards.
Investigators said the crime required approximately two hours to complete, with the thieves withdrawing the maximum of $913 through 14,000 different individual transactions at the Japanese ATMs.
South African Standard Bank Group estimates its total losses at around $20 million.
Authorities said the thieves used a network of ATMs run by Seven Bank across Japan, which was not affected by the crime. Seven Bank is one of only two banks in Japan that accept foreign-issued credit and debit cards. The bank is owned by Seven & I Holdings Co., which is the parent to 7-Eleven.