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Updated Oct 21, 2022, 6:50am EDT
Africa

Explosive attacks on ATMs in South Africa are up, report finds

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The News

The South African Banking Risk Information Centre has recorded at 15% spike in explosive attacks on ATMs in the country amid a slow economy and high rates of unemployment. The attacks were successful 32% of the time.

A local walks past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Orlando, Soweto, South Africa, September 28, 2022.
REUTERS/Siphiwe Sibeko/File Photo
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Attacks on ATMs were up 11% overall, SABRIC found. South Africa’s finance industry saw monetary losses tick up 17% as a result of the use of explosives.

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Anti-theft methods including dye staining, which marks bank notes with colored dye, helped to reduce financial losses by 9%, SABRIC found, but in some instances robbers still left with money that had been stained.

Semafor/Jeronimo Gonzalez

“In 56% of incidents, perpetrators were successful in accessing the cash inside the ATM, whether it was dye stained or not,” the report said.

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