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# Taiwan FSC fines Taishin Bank NT$6 million over misdirected collection letters and card statements
- URL: https://www.theglobalbanker.com/taiwan-fsc-fines-taishin-bank-nt-6-million-over-misdirected-collection-letters-and-card-st/
- Published: 2025-05-08T14:10:00.000Z
- Updated: 2026-10-01T12:30:46.000Z
- Description: Taiwan's Financial Supervisory Commission penalised Taishin International Bank after system and printing errors affected collection letters and credit card statements for 1,447 customers.
- Author: TGB Editorial Team
- Tags: Regulations, Asia-Pacific, #archive

Taiwan's Financial Supervisory Commission (FSC) said on 8 May 2025 that it had fined Taishin International Bank NT$6 million for failing to properly establish and implement its internal control system, after errors in debt-collection letters and credit card statements affected a combined 1,447 customers.

Wang Yun-chung, deputy director-general of the FSC's Banking Bureau, told a regular press briefing that when the bank adjusted the address fields in its credit card system on 1 May 2020 and 9 May 2024, it did not make matching changes to its collection system. A separate change to the address-update function in its mobile banking service in August 2022 contained a rule-design error in data written to its core system. As a result, collection letters for debit cards, credit cards and consumer finance products carried incorrect addresses and could have been misdelivered, exposing personal data. That problem affected 1,089 customers.

#### PRINTER FAULT AT OUTSOURCED VENDOR

In a second incident, a printer run by the outside vendor that prints and packs Taishin's credit card statements malfunctioned in the early hours of 22 November 2024\. A reading fault between a sensor and alignment codes meant the cardholder name on the front of statements belonged to a different customer from the transaction details and payment slip on the back, affecting 358 customers.

The problems came to light after affected customers contacted the bank, which then investigated. The regulator found that Taishin had not adequately established testing and verification mechanisms for changes to its information systems, nor controls over the mailing of collection letters and returned post, and had not effectively supervised its outsourced vendor. The penalty was imposed under Article 129, Subparagraph 7 of the Banking Act.

#### CORRECTIVE MEASURES ORDERED

The FSC ordered the bank to review the accuracy of data transfers between systems whenever they are adjusted or changed, and to introduce checks before, during and after such changes, with the improvements to be reviewed by an independent third party and reported to the board. Taishin was also told to strengthen supervision of its IT staff, build up its auditors' information-system audit capabilities, tighten management of outsourced vendors and assess whether to seek compensation from the vendor under its contract.