By James de Villiers for Business Insider SA
The North Korean connection in a brazen R300-million heist in Japan, which used stolen data from Standard Bank, has been confirmed in a new report.
The mastermind of the 2016 operation – which involved more than 100 people – fled to North Korea afterwards.
The group is believed to have used counterfeit credit cards stolen or leaked from Standard Bank to steal the money.
It has now been confirmed that the alleged mastermind behind a syndicate which stole 1.8 billion yen, or roughly R302 million at current exchange rates, in Japan by using data stolen from Standard Bank, fled to North Korea, the Japanese newswire Kyodo News reported this weekend.
In 2016, the man lead a group of people who used counterfeit credit cards stolen or leaked from Standard Bank to withdraw large amounts from convenience-store ATMs in 17 areas across the country, including Tokyo.
The Atlantic reported that more than 100 people were believed to have been involved in the operation which took place over two hours on 15 May 2016.
Around 1 700 automated teller machines at 1 600 convenience stores were targeted.
The mastermind fled to North Korea by way of China shortly after, investigators have now determined.
Last year, Nippon.com reported that United Nations Security Council panel found that North Korea may have been involved in the incident.
Standard Bank told Business Insider South Africa that they are unable to comment as investigations are ongoing, and directed enquiries to the relevant authorities.
Japanese police have been working with South African police during its investigations. It said over 260 people have been arrested in relation to the incident, the Japan Times reported.