May 23, 2016 / 6:56 AM / 3 years ago

BRIEF-Standard Bank says S.African banking unit has been victim of fraud

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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