STRATEGIC PARTNERS
April 9, 2002
TAIPEI, Taiwan -- Police are investigating more than 100 unauthorized cash withdrawals at several banks' ATMs, according to a report in the Financial Times. The incidents also prompted some banks to halt cross-bank cash withdrawals at their ATMs.
Police said that Pan Asia Bank reported that all the cash in the ATM at one branch was emptied during a three-day holiday beginning on April 5.
Several customers of the bank reported debits from their accounts although they had neither lost their bank cards nor made withdrawals. Records show that the money was drawn with bank cards issued by other banks, including the Bank of Taiwan, Hua Nan Commercial Bank, and Taiwan Business Bank.
Taiwan Business Bank discovered the same problem at its own ATMs on April 7. Although it took swift action to suspend cross-bank cash withdrawals, 67 illegal withdrawals were made on the same day.
Police suspect the latest spate of illegal withdrawals could be the resurrection of a case in late 2000 when a ring of four thieves set up phony ATMs to attract customers to use the machines and captured PIN numbers.
Illegal cash withdrawals ran up to more than New Taiwan dollars $6 million (approximately U.S. $172,000) affecting more than 200 deposits. Two of the suspects were captured while the other two are still at large.
