The fine is the highest ever imposed against a bank by the FSC for IT-related issues. The bank's president will also have his salary cut for three months.
January 6, 2023Banks are required to apply additional scrutiny of overseas transfers requested by customers via bank counters, to ensure the transaction is not the result of a fraud attempt.
September 18, 2022The illegal behavior lasted nearly 10 years, affecting nine customers, five of which were seniors. The total amount involved was about TWD 84.5 million.
August 1, 2022Bangladesh Bank has also recently removed pre-set limits on online money transfers between customers' bank accounts.
May 11, 2022Customers of multiple rural banks complained that banking service disruptions have prevented them from withdrawing their money.
May 9, 2022The bank was fined, temporarily barred from setting up new ATMs, and required to increase its operational risk capital by 30 June.
April 14, 2022Online banking, electronic payment services and cryptocurrency wallets have made it more difficult to recover scam proceeds.
January 27, 2022The failure was attributable to an error in Mizuho's system settings for transactions occurring at night and on holidays, impacting ATM and online banking operations.
January 4, 2022Banks are asked to relax documentary requirements and provide simple personal account opening services, making use of external data to verify customer identities.
October 4, 2021The new requirements will ensure merchant acquiring services have measures in place to manage settlement risk, financial risk, fraud risk, technology risk and cyber risk.
September 23, 2021