May 23 (Reuters) - Standard Bank Group Ltd
* South african banking operations of standard bank group have been victim of a sophisticated, coordinated fraud incident.
* Involved withdrawal of cash using a small number of fictitious cards at various atms in japan
* Has taken swift action to contain matter and gross loss to bank is estimated at 300 mln rand
* This is prior to any potential recoveries that may serve to reduce loss
* Target of fraud has been Standard Bank and there has been no financial loss for customers.
* Relevant authorities have been alerted. Source text for Eikon: Further company coverage:
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