Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybercrime

Manhunt After Millions Stolen in Hours-long Japan ATM Heist

A manhunt is underway for criminals who looted millions from Japan’s cash machines nationwide in an hours-long heist, officials and reports said Monday.

A manhunt is underway for criminals who looted millions from Japan’s cash machines nationwide in an hours-long heist, officials and reports said Monday.

Armed with fake credit card details from South Africa’s Standard Bank, the thieves hit 1,400 convenience store ATMs in a coordinated attack earlier this month.

The international gang members, reportedly numbering around 100 people, each made a series of withdrawals in less than three hours, Japanese media said.

Their haul totaled 1.4 billion yen ($13 million), according to the reports, with machines in Tokyo and Osaka among those targeted.

It was not clear how the gang made off with the equivalent of millions of dollars so quickly as the cash machines usually limit withdrawals to 100,000 yen ($910) a day.

Japanese police declined to confirm the robbery, but Standard Bank acknowledged the heist and put its losses at around $19 million.

The bank said it was a “victim of a sophisticated, coordinated fraud incident”.

“This involved the withdrawal of cash using a small number of fictitious cards at various ATMs in Japan,” it said in a statement.

Japan’s top-selling Yomiuri newspaper said the lightning-fast raids began early on the morning of May 15, a Sunday, when banks were closed.

That may have bought the thieves enough time to pull off the robbery and leave the country before authorities could act, reports said.

Japanese authorities are expected to analyze footage of ATM security cameras and work with South African authorities.

“Investigations are at a sensitive stage and further information will be provided as appropriate,” Standard Bank said.

It was believed that police had no suspects in custody.

Similar robberies have occurred in recent years, including a pair of heists totaling about $45 million that saw a group of cyber thieves disable withdrawal limits on ATMs around the world.

The machines were later raided by street associates who used stolen security passcodes to harvest the loot.

Related Reading: ATMs Targeted With Improved “Skimer” Malware

Related Reading: Skillful Hackers Drained ATMs Using Malware-laden USB Drives

Related Reading: Authorities Disrupt ATM Skimming Operation

Written By

AFP 2023

Click to comment

Expert Insights

Related Content

Cybercrime

Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.

Cybercrime

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.

Cybercrime

A new study by McAfee and the Center for Strategic and International Studies (CSIS) named a staggering figure as the true annual cost of...

Cybercrime

The FBI dismantled the network of the prolific Hive ransomware gang and seized infrastructure in Los Angeles that was used for the operation.

Cybercrime

Video games developer Riot Games says source code was stolen from its development environment in a ransomware attack

Cybercrime

CISA, NSA, and MS-ISAC issued an alert on the malicious use of RMM software to steal money from bank accounts.

Cybercrime

Chinese threat actor DragonSpark has been using the SparkRAT open source backdoor in attacks targeting East Asian organizations.

Cybercrime

Artificial intelligence is competing in another endeavor once limited to humans — creating propaganda and disinformation.