Democratic Progressive Party lawmakers yesterday called for enhanced anti-fraud measures for banks and apps to protect consumers from phishing attacks.
They made the remarks at a news conference calling for amendment to the Regulations Governing the Standards for Information System and Security Management of Electronic Payment Institutions (電子支付機構資訊系統標準及安全控管作業基準辦法) at the Legislative Yuan in Taipei.
A woman surnamed Wang (王) told reporters that she lost NT$190,000 (US$6,436) after giving away her credit card information to buy farm-to-table fruit.
Photo: Wang Yi-sung, Taipei Times
Eight fraudulent purchases were made within two hours with her card on a payment app, she added.
Other victims of the scheme have been identified after she reported the crime to police, Wang said.
Online credit card fraud is a rising problem that drained an estimated NT$1.93 billion from the Taiwanese economy last year, Legislator Chung Chia-pin (鍾佳濱) said, citing the National Credit Card Center.
The regulations — which include standards for consumer safeguards in electronic transactions — have not been updated since 2014 and cannot be utilized to regulate apps, Chung said.
User authentication, transaction limits, mechanism for detecting suspicious transactions and arbitration processes, as well as other necessary measures, are not regulated for purchases on apps, he said.
“The regulations need to keep up with the times,” he added.
Legislator Kuo Kuo-wen (郭國文) said the regulations should be amended to make apps and banks bear some responsibility to protect people from being defrauded while using their services.
Regulators should require businesses to send customers messages that warn about fraud and create an anti-phishing task force to investigate app fraud, the lawmakers said.
Department of Consumer Protection ombudsman Wang Chih-hung (王志宏) said the agency would ask the Ministry of Economic Affairs to start drafting the amendments needed and organizing a task force.
Tsao Yu-ling (曹玉翎), a senior officer at the Financial Supervisory Commission, said the proposal for warning messages would be discussed with the Bankers Association and a trip wire system for suspicious transactions would be discussed with the Banking Bureau.
Lee Yung-yi (李勇毅), a senior official at the ministry, said officials would examine whether revisions to the standard form for contracts with banks and apps should be changed to improve consumer protection.
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