Taiwan's Bank SinoPac hit by online banking cyber-attack, NT$41.76 million transferred without authorisation
Security settings at the supplier of Taiwan's Bank SinoPac's new online banking system were exploited to make 427 unauthorised transfers totalling NT$41.76 million from customer accounts. The bank refunded the stolen funds and fees, suspended the affected system, and introduced measures to block attacks and strengthen authentication. No evidence of a personal data leak was found, and the bank said it would seek damages from the overseas supplier.
Key facts
- Affected organisation
- Bank SinoPac
- Incident type
- Hacking & intrusion
- Occurred / detected
- Not confirmed
- Scale of damage
- 427 unauthorised transfers totalling NT$41.76 million
- Cause / method
- Exploitation of a vulnerability in the security settings of the supplier of the new online banking system
- Location
- Taiwan
Timeline
- Bank SinoPac established that the unauthorised transfers resulted from hacking that exploited the supplier's security settings and announced refunds and plans to seek damages from the supplier.
- Taiwan's financial supervisory authorities met with the bank's management and required a report within seven days.
- The bank said it had refunded the stolen funds and fees, suspended the new app, and found no traces of a personal data leak.
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The summary and key facts are written by AI from related reports and may contain errors. Check the original articles and the organisation’s official statements for accurate details.