Men Indicted for $567,190 San Mateo Bank Heist
Alan Fung Lau and Jacky Ching Hang Pang face federal charges for an alleged bank robbery spree.
Updated on Oct. 7, 2026 in Financial Crime
Federal prosecutors indicted Alan Fung Lau, 44, and Jacky Ching Hang Pang, 45, for a bank heist involving the theft of $567,190. The two suspects pleaded not guilty to charges of conspiracy, bank larceny, wire fraud, and possession of stolen funds on Sept. 22, 2026.
Why it matters
The case sheds light on a sophisticated series of ATM thefts allegedly carried out by the duo using specialized equipment. Federal officials are investigating the group's coordinated effort to gain unauthorized access to secure banking terminals in San Mateo.
A federal grand jury issued indictments in mid-September 2026 following the alleged theft. The defendants currently await a court appearance scheduled for Nov. 2, 2026.
The players
Alan Fung Lau
He is a 44-year-old defendant who allegedly supplied ATM access codes to co-conspirators.
Jacky Ching Hang Pang
He is a 45-year-old defendant who was indicted alongside Lau for his involvement in the alleged bank heist.
The details
The suspects allegedly used Mickey Mouse backpacks and padlocks to carry out their operation after purchasing the supplies in Foster City on May 28, 2025. During the May 31, 2025 robberies, the duo purportedly wore masks and gloves, spray-painted security cameras, and allegedly held Lau at gunpoint to force open ATMs; Lau also reportedly applied for worker's compensation afterward.
Timeline
May 28, 2025: Suspects purchased backpacks and padlocks.
May 31, 2025: Alleged kidnapping and ATM robberies occurred.
Mid-September 2026: Federal grand jury issued indictments.
Sept. 22, 2026: Defendants pleaded not guilty and were released.
Nov. 2, 2026: Next scheduled court appearance for defendants.
Legal Context
This prosecution highlights the increasing federal scrutiny of ATM security protocols and organized financial theft. It mirrors broader trends in the regional legal environment where complex fraud cases involving bank infrastructure are increasingly handled at the federal level.
The charges highlight the need for improved security measures surrounding local bank automated terminals to prevent unauthorized access. Residents should remain vigilant and report any suspicious activity observed near local financial infrastructure.
The takeaway
Large-scale financial crimes involving ATM access often lead to multi-agency investigations that may take years to reach the indictment stage. Protecting your banking credentials is an essential step in preventing the misuse of access codes by malicious actors.
What happens next
The defendants are scheduled for a mandatory court appearance on Nov. 2, 2026, to proceed with the legal process.
Further reading
Learn more about local investigations in San Mateo Financial Crime.
Source note: This article includes information reported by San Jose Mercury News.
