Bank SinoPac confirms cyberattack after unauthorised transfers from 419 accounts
Bank SinoPac in Taiwan has confirmed a cyberattack after unauthorised transfers were made from 419 customer accounts on Tuesday 3 November, with the bank's chairman and president apologising on Wednesday 4 November. The incident was first reported on 3 November and confirmed as an attack on 4 November, and is dated honestly here.
According to Taiwan's Financial Supervisory Commission (FSC), 427 unauthorised transfers of about NT$100,000 each, totalling more than NT$40 million (about US$1.21 million), were made from the accounts of 419 customers. The bank said on 4 November that the total was NT$41.76 million. All of the funds went to a single account at Taipei Fubon Bank, which has been frozen. Customers reported money leaving their accounts without having logged into the bank's new mobile banking app, and some said records showed face-scan confirmations they never made.
From "program error" to cyberattack
On 3 November the bank first called the incident a program error in its new online banking transaction system, said it had identified the cause and suspended the service, and refunded the money including fees. On 4 November it said hackers had exploited security settings in a supplier's new online banking transaction system. The bank refunded all affected funds and transaction fees on 3 November using its own funds, took the affected system offline, brought in an outside cybersecurity team, and directed customers to the older version of its app or to ATMs. It plans to seek compensation from the supplier and has referred the case to investigators.
The bank said on 4 November it had found no evidence of customer data being leaked. The FSC expects a detailed report from the bank by 12 November. Police received 68 reports by noon on 3 November, many involving male customers with ties to Yunlin County.
Sources: Focus Taiwan via IDTechWire, Bank SinoPac Pulls New App After Unauthorized Transfers From 419 Customer Accounts, 3 November 2026; Mark Radar, Bank SinoPac Refunds NT$41.76 Million After Cyberattack, 4 November 2026.
