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Taishin International Bank fined NT $ 30 million for loose internal controls

Profit-oriented:
According to the FSC, banks are focusing on achieving sales targets while reducing staff, partly because they couldn’t find any illegal activity.

  • Kao Shikei / Staff Reporter

The Financial Supervisory Commission (FSC) said yesterday a record high of NT $ 30 million (US $ 1.07 million) for monitoring failures after Taishin Bank staff stole NT $ 347 million from customers. ) Was fined.

The fine was much higher than the NT $ 20 million fine given to E.SUN Commercial Bank in November last year and the NT $ 12 million fine given to Cathay United Bank in December last year for similar failures. rice field. ..

According to Commission data, E.Sun employees stole NT $ 140 million from 41 clients and Cathay United Bank staff stole NT $ 17.32 million from four clients.

Photo: Wang Meng Run, Taipei Times

Taishin Bank said that not only was NT $ 347 million stolen by a former employee from nine customers the highest among bank thefts, but it was also stolen by employees for more than a decade from 2008 to last year. I received the heaviest punishment for going. According to the committee, banks have loose internal controls.

A former employee, a customer relations manager named Chou at a branch in Zhonghe District, New Taipei City, asked a client to sign a blank remittance form and used it to make a friend’s The money was sent to a bank account or his sister, Deputy Director of the Banking Bureau, Zhonghe, told the video conference.

Fans said some of Chow’s customers applied to adjust their bank accounts, but the banks failed to keep a record of their account activity for inspection.

When the bank discovered a suspicious cash move in 2019, Chow’s manager only asked him to write a report, but he couldn’t keep an eye on him, fans added.

The commission also accused Taishin Bank’s management of over-focusing on how banks can reduce the workforce of branches and generate sales for their employees. Said.

“In the 2016 employee performance assessment, the weighting of sales was 40%. After that, the weighting was reduced, but it was still relatively higher than other banks,” he said. ..

It may explain why the person responsible for the check did not discover any illegal activity when Chow secretly transferred funds from the client to another account, fans said.

The FSC has suspended Taishin Bank’s deputy head of retail banking, Lin, for three months, saying that Lin was responsible for management deficiencies as he designed employee performance assessments.

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https://www.taipeitimes.com/News/biz/archives/2021/07/23/2003761292 Taishin International Bank fined NT $ 30 million for loose internal controls

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