Premier William Lai (賴清德) yesterday requested that government agencies review the nation’s information security after Far Eastern International Bank (遠東商銀) reported that its system was hacked earlier in the week.
The premier was fully briefed on the incident and instructed the government to learn from the case and tighten information security by closing vulnerabilities, Cabinet spokesman Hsu Kuo-yung (徐國勇) said.
Far Eastern on Friday said it reported to the Financial Supervisory Commission that malware had been implanted in its computer system, which affected some of its PCs and servers, as well as the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
Photo: Chiu Chun-fu, Taipei Times
SWIFT is a members-only organization that provides safe and secure financial transactions for its members via a standardized proprietary communications platform, which can facilitate the transmission of information about financial transactions.
Through the malware, hackers conducted virtual transactions to move funds totaling nearly US$60 million from Far Eastern clients’ accounts to foreign destinations such as Sri Lanka, Cambodia and the US, the bank found on Tuesday.
However, the bank said that due to its efforts to trace back the lost funds, the cyberattack cost the bank less than US$500,000.
As efforts to trace the lost funds by underpinning certain fund movements continue, the loss could be reduced to zero, it added.
The hacking did not lead to any leaks of client information, Far Eastern said.
Far Eastern vice president Liu Lung-kuang (劉龍光) yesterday told reporters that the origin of the malware has not been confirmed, but added that the bank is sure that the malicious software used to attack the transaction system is a new variety that had never been seen before.
The Criminal Investigation Bureau yesterday said that it has launched an investigation into the cyberattack and requested that the bank submit details about its computer operations after it reported the case to the bureau on Thursday.
The bureau said it has also informed the International Criminal Police Organization, commonly known as Interpol, of the case and asked for assistance.
Due to the international assistance, the bureau said Far Eastern’s losses are expected to be less than US$500,000, adding that similar hacking cases were reported in Vietnam and Bangladesh in 2015 and last year.
It was the first case in which malware was implanted into a Taiwanese bank’s computer network to transfer massive amounts of funds out of clients’ accounts.
The commission said that it was an isolated case, adding that no other incidents have been reported in the nation.
Far Eastern will have to shoulder all of the responsibility for the incident and bear all possible losses so that its clients’ interests will not be affected, the commission said.
The commission said it has asked Far Eastern to submit a comprehensive report on the incident to determine whether the bank should face regulatory punishment.
The commission has asked all banks in the nation to tighten controls on transactions during the ongoing four-day Double Ten National Day holiday.
PROTECTION: The New Taipei City mayor said a pass could cover stores, but not eateries, while Ko Wen-je said vaccinated people could be exempted from some rules Taipei Mayor Ko Wen-je (柯文哲) and New Taipei City Mayor Hou You-yi (侯友宜) on Saturday proposed implementing a “COVID-19 pass” regulation that would allow only vaccinated people into certain areas. New Taipei City is planning to require a “COVID-19 pass” for entry to “vulnerable spaces” to prevent the spread of COVID-19, Hou said. Non-students entering elementary schools in New Taipei City are required to show their COVID-19 vaccination cards or proof of a recent negative COVID-19 test. This is for the protection of students under the age of 12, who are not eligible to receive a COVID-19 vaccine, city officials have said. The
PAPERS, PLEASE: A digital certificate or a printout would return one of three results: green for ‘pass,’ red for ‘not passed’ or yellow for ‘to be determined,’ the CECC said Starting today, people can download a Digital COVID-19 Certificate, with the government now requiring people at night clubs, karaoke bars and other businesses in “eight major special establishment categories” to be fully vaccinated and present a vaccination certificate. The eight categories include dance venues, massage parlors, hostess bars and saunas. Customers and service personnel at the venues have a higher risk of contracting COVID-19, as they can neither avoid contact with people nor strictly observe distancing guidelines, the Central Epidemic Command Center (CECC) said. As such, both groups are required to be fully vaccinated, meaning that they must have had at least a
LAWMAKERS RALLY: Beijing’s unlegislated actions breach international and WTO trade rules, and affect the basic principles of the EU single market, the letter said A group of 41 EU lawmakers on Tuesday condemned China for its political and economic coercion of Lithuania, and called on leaders of the bloc to demonstrate solidarity with Vilnius. The letter was initiated by Slovakian Member of the European Parliament (MEP) Miriam Lexmann, who is cochair of the Inter-Parliamentary Alliance on China. “We, the undersigned members of the European Parliament, resolutely condemn political and economic coercion of the People’s Republic of China’s (PRC) against Lithuania,” the letter said. The letter addressed European Council President Charles Michel, European Commission President Ursula von der Leyen, High Representative of the EU for Foreign Affairs and
‘GOOD FRIEND’: The Slovenian prime minister said he had visited Taiwan four or five times, and that Taiwanese should have the right to determine their future The Ministry of Foreign Affairs yesterday welcomed Slovenia’s plan to establish a representative office in Taiwan, after Slovenian Prime Minister Janez Jansa revealed the plan in an interview with Indian TV station Doordarshan on Monday. Taiwan is a democratic country that respects international democratic standards and international laws, the Slovenian prime minister said in the interview. Slovenia and Taiwan are working on “exchanging representatives,” he said. “Of course, this will not be on the level of embassies. It will be on the same level as many of the EU member countries.” “When I spoke with our businessmen who are trading with Taiwan, they
RSS