Focus Taiwan
Date: 2017/12/12
By: Tsa Yi-chu and Ko Lin
Taipei, Dec. 12 (CNA) Taiwan’s Far Eastern International Bank has been fined NT$8
CNA file photo
million (US$266,400) for deficiencies related to the recent hacking of its system that allowed robbers to get away with nearly US$60 million, Taiwan’s top financial regulator said Tuesday.
Far Eastern Bank failed to set up adequate information security and data protection of its overall internal banking system, the Financial Supervisory Commission (FSC) said in imposing the NT$8 million fine.
In October, the bank reported to the FSC that its computer system had been infected with malware that had affected some of its computers and servers as well as the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT) network.
SWIFT is a member-only organization that provides safe and secure financial transactions for its members via a standardized proprietary communications platform that can facilitate the transmission of information about financial transactions.
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