With personal-data theft becoming rampant, the Consumers' Founda-tion yesterday attacked financial institutions and the Ministry of Finance for their inability to protect the public's confidential data.
The anger followed a Cabinet announcement on Tuesday that 31 public officials would be punished over a recent leak of personal data -- including 18 employees at state-run Chunghwa Telecom Co (
"As the name list revealed, none of the financial institutions were held accountable. Nor have they announced any indemnifying measures to compensate the victims," Cheng Jen-hung (
The foundation said the seriousness and the legal implications of divulging banks' information were far greater than telecom operators.
"Financial institutions must not act like ostriches and should immediately notify affected customers and provide appropriate compensation," Cheng said.
A former chief of legal affairs with Chinatrust Commercial Bank (中國信託) said that data about savings accounts, credit-card transactions and car and house loans could be used by criminal syndicates for blackmail or intimidation.
"But apparently the government authorities and financial institutions have not learned any lessons from previous incidents," said Christopher Kuo (
Several crime rings have stolen tens of millions of bank account numbers and personal information in the past few years.
In late April, for instance, Yu Li International Marketing Corp (
Kuo said the Banking Law (銀行法) and the Financial Holding Company Act (金融控股公司法) should be used to punish violators, including the companies' boards of directors.
Chang Wan-tung (
According to Article 131 of the Banking Law, financial institutions which are found breaking the law are subject to penalties of between NT$500,000 and NT$2.5 million, which "actually means nothing to those big companies," Chang said.
The foundation demanded that a statutory declaration be enclosed in the next banking bill to promise that personal data will be well protected or monetary damages will be offered according to the Consumer Protection Law (消保法).
"We have to discuss with banks before deciding whether it should be offered to customers," said Yuan Ming-chang (袁明昌), a director of the Bureau of Monetary Affairs.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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