Fubon highlights rise in counterfeit cases amid growing fraud concerns

Fubon highlights rise in counterfeit cases amid growing fraud concerns
Banking & Financial Services
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Richard M. Tsai Chairman, Fubon Financial | Fubon Financial Holding Co., Ltd.

As the Lunar New Year approaches, Fubon Financial Holdings is urging the public to remain vigilant against fraud. The company emphasizes the importance of remembering the "Five No Fraud Prevention Rules" as fraudulent activities continue to evolve. According to data from the 165 Anti-Fraud Dashboard of the National Police Agency, fraud cases from August to December 2024 exceeded 93,000, surpassing the total for all of 2023 in just five months. Financial losses in a single month have reached over ten billion.

Fubon Financial Holdings has detected and removed 485 counterfeit cases in 2024, marking an increase of 186 cases compared to the previous year. These cases include phishing websites, counterfeit apps, and fake social media platforms. The company remains committed to combating crime within the financial industry.

Richard M. Tsai, Chairman of Fubon Financial Holdings, referenced a survey by the Global Anti-Scam Alliance (GASA) which revealed that financial scams have caused global losses reaching trillions of dollars. He stressed that "the financial sector serves as a primary line of defense against these fraudulent practices." Fubon Financial Holdings aims to promote societal good and will continue investing in fraud prevention initiatives.

An analysis by Fubon's Information Security Department showed a rise in counterfeit incidents within the financial holding industry totaling 315 cases in 2024, with phishing accounting for 60% and media-related tactics for 31%. Communication-based methods declined significantly due to improved telecom alert systems and regulatory measures. However, there is an increasing trend of using phishing websites and fraudulent applications.

In response to organizations impersonating businesses and celebrities for fraud, Fubon has implemented a "Public Figures Anti-Fraud Reporting Dedicated Email" mechanism. This allows efficient reporting of illegal activities involving its executives' images. Additionally, Fubon Life introduced a commercial SMS identification code "68999" ensuring secure communication channels.