South Africa
South Africa’s Standard Bank says it has lost $19 million after a scam in Japan.
Officials did not mention when the scam occured.
Standard Bank confirms being target of Japanese fraud syndicatehttps://t.co/CAqU8RT1tM pic.twitter.com/rDQpU2tgxE
— Sowetan LIVE (@SowetanLIVE) May 23, 2016
Bank officials say the perpetrators used counterfeit credit cards to withdraw cash from automated machines.
The bank has called on customers to remain calm because the scam affected its South African operations and not customers.
“Standard Bank has taken swift action to contain the matter and the gross loss to the bank is estimated at 300 million rand ($19million). This is prior to any potential recoveries that may serve to reduce the loss,” the bank said in a statement.
Reuters
Go to video
Botswana rejects controversial UK proposal on asylum-seekers
01:14
South Africa: Another loss for ANC to stop Jacob Zuma's MK party
01:44
BRICS Film Festival begins in Moscow
02:47
Unraveling the political threads: Inside South Africa's Complex Election Landscape
01:08
SA poll body seeks clarification from Constitutional court on Zuma's eligibility
02:08
South Africa: Zuma's prosecution bid against Ramaphosa postponed