Drivers withdraw NT$6 million from ATMs every day. New Taipei City council member criticizes: Anti-fraud warning system is useless

Lin Guochun, a member of the New Taipei City Council of the Kuomintang, revealed a major fraud case at the general questioning of the parliament today (24). He pointed out that some people were deceived by a fraud group and their bank cards and passwords were stolen. The fraudsters went to the ATM to withdraw more than 100,000 yuan in cash every day, and the total loss in the end exceeded 6 million yuan. During the whole process, the bank did not take the initiative to report the abnormal flow of funds, and the police were unable to intervene immediately. It was not until the funds were almost withdrawn that the victim’s friends noticed something was wrong and reported the case. He criticized the central government’s so-called anti-fraud early warning system and the bank’s internal reporting system for being sham, which allowed the fraud group to succeed in the long-term operation.
New Taipei City Councillor Lin Guochun pointed out that some scammers took more than 100,000 yuan from ATMs every day, and even “ant moved” to withdraw more than 6 million yuan. Service Office provided
New Taipei City Councillor Lin Guochun pointed out that some scammers took more than 100,000 yuan from ATMs every day, and even “ant moved” to withdraw more than 6 million yuan. Provided by the Service Office
Lin Guochun pointed out that the victims had been withdrawing large amounts of cash for many consecutive days, but the bank did not take any early warning or caring measures, which showed that the financial flow monitoring of the Financial Supervisory Commission and the financial system was seriously malfunctioning. He also questioned that the anti-fraud early warning system and the internal reporting system of the bank claimed by the government were tantamount to a virtual existence and could not really play a protective role. Instead, it allowed the fraud group to operate for a long time and advance step by step until the victims suffered heavy losses and then became alert.

Lin Guochun emphasized that modern technology is already sufficient to prevent drivers from withdrawing money. “Technically, facial recognition can be done to instantly compare whether the person withdrawing money is the account holder.” He cited an example that if such anti-fraud design is fully adopted, society will no longer need to worry about someone withdrawing money in someone else’s name or fraudulent drivers running rampant.

Lin Guochun called on the city government to take the initiative to review the joint defense system of the city’s police stations and financial institutions, and to recommend to the Central Financial Supervisory Commission to establish an early warning system including daily high-amount cash withdrawals, strengthen the bank’s concern and suspension mechanism, establish an instant abnormal reporting platform with local police, and give priority to the introduction of facial recognition, biometric verification and other technological tools to block fraudulent money flows.

Hou Youyi expressed his support for the local government to propose institutional reforms to the central government and urged the Financial Supervisory Commission to strengthen financial fraud prevention regulations. Lin Guochun’s Office provided
Hou Youyi expressed his support for the local government to propose institutional reforms to the central government and urged the Financial Supervisory Commission to strengthen financial fraud prevention regulations. Lin Guochun’s Office provided
In response, Mayor Hou Youyi also expressed his support for the local government to propose institutional reforms to the central government and urged the Financial Supervisory Commission to strengthen financial fraud prevention regulations.

Lin Guochun finally mentioned that this is not an isolated case, but a systemic regulatory loophole. The system cannot always be patched after the fact. The city government should be brave enough to report to the higher authorities and defend the first line of defense for the safety of people’s property.