Taiwan men were fined for exploiting loopholes in the banking system and swiping NT $63 million
BEIJING, Nov. 7 (Xinhua) According to Taiwan's China Times, Taiwan's first bank "was defrauded" case! After a customer used a loophole in the system logic to increase the credit card limit by way of prepaid card fees, a bank made more than 600 outrageous swipes in a month, with a total amount of more than 63 million yuan (NT $, the same below) and no repayment. Taiwan's financial regulatory agency fined 2.5 million yuan for the lack of the banking system. At present, the bank has sued the customer for 63 million yuan.
Almost all banks have the service of increasing the credit card credit limit by prepaid card fees through ATM. However, a middle-aged man in Taiwan found a logical loophole in a bank's credit card system, and was unable to immediately detect the abnormal swiping of customers' cards, thus using this loophole to "defraud banks".
By paying the card fee in advance, the man increased the original credit limit of 600000 yuan. Then, from May to June, he used 600 large bills in excess of 63 million yuan. However, the banking system did not find these abnormal transactions. The bank did not find and report them until the customer failed to repay after the monthly settlement. The middle-aged man has now been arrested.
The bank was defrauded by customers. Taiwan's financial management institution believed that the banking system was defective, the credit card information system was not perfect for a long time, and the customer's abnormal card swiping behavior was not handled in a timely manner. It issued a fine of 2.5 million yuan, which was the maximum fine limit of relevant regulations. It also required all banks in Taiwan to inspect relevant systems.
The bank said that after checking all relevant transaction records and documents, it was confirmed that this case of "deliberate fraud against the bank" was a single case, and no other customer's rights and interests were affected, so it was inconvenient to explain the details of the case to the public.
Editor in charge: Zhao Ziniu
