meta_id 3184367

On May 26, 2026, Taiwan's Financial Supervisory Commission (FSC) announced administrative penalties against Taishin International Commercial Bank (Taishin Bank) for violations of banking regulations. The FSC found that a former wealth management specialist at Taishin Bank misappropriated approximately New Taiwan Dollar (NTD) 1.57 million from customers between December 2020 and October 2022, affecting two customers. The bank failed to report this incident to the FSC as required by law. Taishin Bank violated the Banking Act Article 45-1(1), internal control and audit system regulations, and demonstrated conduct that jeopardised sound business operations. The FSC identified significant deficiencies in the bank's internal control systems, including inadequate mechanisms for detecting abnormal automated teller machine (ATM) transactions, insufficient controls over wealth management specialists' consultation room activities, and weak confirmation procedures for transactions conducted on behalf of customers. The bank also failed to properly execute its major incident reporting procedures and did not adequately supervise employee compliance with conduct standards. The FSC imposed a fine of NTD 14 million and issued a correction order. Additionally, Taishin Bank must suspend accepting new customers for high-net-worth financial products and services for one month, and suspend accepting new customers for pilot business operations at its Kaohsiung wealth management centre for one month. The bank may resume these activities only after the FSC approves its remedial improvements. The FSC also required Taishin Bank to report the offending employee to the Banking Association, conduct comprehensive responsibility reviews, strengthen employee training, enhance internal controls and audit mechanisms, and increase capital provisions for operational risk under capital adequacy regulations.