In less than three hours, more than 1.4 Billion Yen (US$12.7Million) was reported stolen from cash machines in Japan.

The police suspect the crime was perpetrated by members of an international crime syndicate with many people who worked together using forged credit cards containing account details illegally obtained from a bank in South Africa.

According to the Japanese police, each individual made a single withdrawal of 100,000 yen, the maximum allowed by the cash machines in Tokyo and 16 other territories.

The withdrawals began on the 15th of May just after 5am and the last one was made just before 8am on the same day.

The suspected culprits have not been arrested and it is suspected that these suspects may have left Japan. It is speculated that due to the fact that they used cards issued from South Africa, a country different from where the withdrawals took place, and on a day of the week in which the banks were not opened may have afforded them the time to leave the country before the fraud was discovered.

Author: Ope Adedeji