Yuanta Bank in Taiwan Faces Mass Unauthorized Transfer Incident, Affecting 419 Customers and Involving Over NT$40 Million
TechFlow reports that on November 03, according to Central News Agency, Taiwan Yongfeng Bank experienced a large-scale abnormal account transfer incident. Initial investigations uncovered 427 suspicious transactions, each worth approximately NT$100,000, involving over NT$40 million and affecting 419 customers. The funds were all transferred to a single account at Taipei Fubon Bank, which has currently been temporarily frozen.Yongfeng Bank stated that it has reimbursed affected customers using advance funds and removed the new mobile banking app, temporarily directing users to conduct transactions via the legacy app and ATMs. The Financial Supervisory Commission ordered Yongfeng Bank to submit a significant incident report by November 12, with penalties to be determined based on the cause and severity of the event. The bank is currently investigating the cause of the information system anomaly.
TechFlow reports that on November 03, according to Central News Agency, Taiwan Yongfeng Bank experienced a large-scale abnormal account transfer incident. Initial investigations uncovered 427 suspicious transactions, each worth approximately NT$100,000, involving over NT$40 million and affecting 419 customers. The funds were all transferred to a single account at Taipei Fubon Bank, which has currently been temporarily frozen.
Yongfeng Bank stated that it has reimbursed affected customers using advance funds and removed the new mobile banking app, temporarily directing users to conduct transactions via the legacy app and ATMs. The Financial Supervisory Commission ordered Yongfeng Bank to submit a significant incident report by November 12, with penalties to be determined based on the cause and severity of the event. The bank is currently investigating the cause of the information system anomaly.
