If your credit union operates ATMs in remote locations like convenience stores or shopping malls, a bank heist in Japan probably caught your attention.

According to news reports, fraudsters used 1,600 fake cards to withdraw money from multiple ATMs in Japan belonging to the same South African bank. In just a few hours, the coordinated attack – focused on ATMs in convenience stores – drained the bank of over $13 million.

While the magnitude of this fraud may be rare, it should give financial institutions pause to consider the level of security they have in place around their off-premises ATMs.

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