Standard Bank confirms being target of Japanese fraud syndicate

Standard Bank confirmed on Monday it is the South African bank referred to in Japanese reports whose data leak resulted in ¥1.4-billion (R200 million) being stolen from about 1400 automated teller machines (ATMs) on May 15. Business Day reported that the bank said in a statement: "The South African banking operations of Standard Bank Group have been the victim of a sophisticated‚ co-ordinated fraud incident.