Taiwan's Bank SinoPac hit by online banking hack, NT$41.76 million transferred without authorization
Security settings at the vendor of Taiwan's Bank SinoPac's new online banking system were exploited to make 427 unauthorized transfers totaling NT$41.76 million from customer accounts. The bank refunded the stolen funds and fees, suspended the affected system, and implemented 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 vendor.
Key facts
- Affected organization
- Bank SinoPac
- Incident type
- Hacking & intrusion
- Occurred / detected
- Not confirmed
- Scale of damage
- 427 unauthorized transfers totaling NT$41.76 million
- Cause / method
- Exploitation of a vulnerability in the security settings of the vendor of the new online banking system
- Location
- Taiwan
Timeline
- Bank SinoPac determined that the unauthorized transfers resulted from hacking that exploited the vendor's security settings and announced refunds and plans to seek damages from the vendor.
- 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 organization’s official statements for accurate details.