A recent stock investment scam in Taiwan, which defrauded a woman of NT$13.7 million, highlights the growing risks of financial fraud in the digital age. As online scams become more sophisticated, Taiwan’s government and financial sector are ramping up regulatory measures, AI-driven fraud detection, and public awareness campaigns to combat rising cybercrime.
The island’s world-leading ICT and semiconductor sectors have come under the spotlight following a series of high-profile cyberattacks. In late March, Taiwanese tech hardware giant Acer reportedly was the victim of a ransomware attack – a type of cyberattack in which money is demanded in exchange for hacked sensitive data. According to media reports, the…
Declaring that “information security is national security,” President Tsai Ing-wen’s administration has made considerable progress fulfilling promises to beef up Taiwan’s cybersecurity defenses as well as to spur development of the home-grown cybersecurity sector. A Department of Cybersecurity was established in 2016 as an official unit under the Executive Yuan, upgraded from its previous incarnation…
“White hat” hackers and cyber-cops fight crime in Taiwan’s heavily attacked cyberspace. Cybercrime is a growing problem in Taiwan and around the world, cybersecurity experts and law enforcement officers agree. “It’s absolutely on the rise because everything is connected to the internet – you can shop online, can do anything,” says Wu Fu-mei, acting director…
An examination of the incident shows things that Taiwan did well, plus areas in need of improvement. On July 9 and 10 last summer, the ATM network of the First Commercial Bank in Taiwan was hit by a well-coordinated hack that took control of the system, forcing selected ATM machines to spew cash out to…
