SC Magazine: Analysis: Japanese ATM super-raiders bag £9m in 3 hours

May 24 — Japanese ATM super-raiders bag £9m in 3 hours.

Japanese police are investigating a raid that hit as many as 1400 ATMs in a sophisticated coordinated attack this month. With comments from Robert Capps, VP of Business Development at NuData Security.

Hackers are thought to have bagged 1.4 billion yen (roughly GBP £9 million) in cash from ATMs in convenience stores across the Japan.

Home to its own brand of mafia and a string of illicit underground cybercrime communities, the Japanese ATM hackers are said to have used cards that were cloned from data stolen from Standard Bank in South Africa.

Robert Capps, VP at NuData Security also spoke to SC for extended commentary on this story and pointed out that it looks like Japanese ATMs dispense 10,000 Yen notes, so the maximum withdrawal at one ATM, for one card, would be 10 notes.

“If you extrapolate that across 100 attackers and 14,000 withdrawals, each person would be carrying 1,400 notes. That’s not a small stack of bills! I suspect some of the bills would have been laundered in the country, with the rest being laundered at currency exchange booths at airports all over the world. I bet Travelex, and the like, are seeing a huge increase in 10,000 Yen notes being exchanged,” said Capps.

For the complete article, go here.