Two men nabbed for R300 million Standard Bank heist

Two Japanese men have been arrested for allegedly stealing over R300 million ZAR in a sophisticated Standard Bank heist that occurred overseas.

Earlier this month, a massive Standard Bank heist occurred in Japan that saw the South African financial institution defrauded of over R300 million ZAR.
Now, Japanese media have disclosed that two men have been arressted for allegedly being part of a co-ordinated heist which have involved nearly 100 more individuals.
Read: Standard Bank loses R300 million ZAR in credit card scam
Tatsuo Nakazono and Katsuya Sahashi, both 28 year old Japanese nationals, were arrested on charges of having used fake credit cards to withdraw ¥1.2m JPY (R1.74m ZAR) in a co-ordinated Standard Bank heist that took place in Tokyo and Osaka.
Japanese media has reported, however, that the theft is expected to have been undertaken by over 100 members of an international gang, who together made withdrawals from 1,400 different ATMs throughout the country.
Several Japanese media sources – such as Kyodo News and Yomiuri Shimbun – have stated that their investigations show that the arrests formed part of a nationwide heist.
A spokesperson, speaking to AFP, stated that the suspected criminals used fake credit cards to issue withdrawls from ATMs over 12 times.
AFP cited that their source, who spoke under anonymity, identified both of the suspected men as labourers.
It is presently unclear how the syndicate withdrew as large as sum as R300 million ZAR, as Japanese ATMs usually limit transactions to ¥100 000 JPY per day.
Standard Bank has publicly acknowledged the theft and has indicated that its losses are around the mark of $19 million USD (or R300 million ZAR).
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What are your thoughts on the results of the investigation into the Standard Bank heist overseas? Be sure to let us know your opinion in the comments below!
Follow Bryan Smith on Twitter: @bryansmithSA
Source: Fin24 via AFP