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Japan an alluring target for Standard Bank ATM thieves

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Tokyo - Criminals who stole millions of dollars from automatic teller machines across Japan in a three-hour spree probably chose the country because banks consider it a low fraud risk, security experts say.

The gang used counterfeit Standard Bank credit cards to withdraw 1.4bn yen ($13m) 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.

Most ATMs in the 7-Eleven stores belong to Seven Bank, a Japanese bank part-owned by Seven & I Holdings which runs the store chain in Japan, one of only two Japanese banks that allow withdrawals on foreign cards.  

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