STANDARD BANK GROUP LIMITED - Announcement Regarding Fraud Incident
SBK 201605230008A
Announcement Regarding Fraud Incident
STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(“Standard Bank Group”)
ANNOUNCEMENT REGARDING FRAUD INCIDENT
The South African banking operations of Standard Bank Group have been
the victim of a sophisticated, coordinated fraud incident. This
involved the withdrawal of cash using a small number of fictitious
cards at various ATMs in Japan. The target of the fraud has been
Standard Bank and there has been no financial loss for customers.
Standard Bank has taken swift action to contain the matter and the
gross loss to the bank is estimated at R300m. This is prior to any
potential recoveries that may serve to reduce the loss.
The relevant authorities have been alerted.
Investigations are at a sensitive stage and further information will
be provided as appropriate.
23 May 2016
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
Date: 23/05/2016 08:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
