Regulatory Alerts2026-07-07
Added · Updated
Financial Supervisory Commission Reminds the Public to Verify Payee Names When Transferring Money and to Beware of Fraud
The Financial Supervisory Commission (FSC) announced the implementation of a "Payee Name Display Mechanism for Transfers" starting late September 2025, requiring ATMs, online, and mobile banking to show partially masked payee names for verification to prevent incorrect transfers and fraud. The FSC also warned the public about ongoing fraud schemes where criminals impersonate FSC personnel to demand verification fees or financial cards, using various pretexts like money laundering involvement or stolen personal data. The FSC emphatically clarified that it never contacts the public via social media, nor does it request financial cards, passbooks, or any fees, urging vigilance and providing "165" and (02)8968-0899 as verification hotlines.
Announcement Information
Back to Homepage
Announcement Information
Press Release
Press Release
Line
Printer-friendly
Back to Previous Page
Financial Supervisory Commission Reminds the Public to Verify Payee Names When Transferring Money and to Beware of Fraud
2026-07-07
In the past, when making transfers via ATM, online banking, or mobile banking, the payee's name was not displayed, leading to instances of incorrect transfers due to wrong account numbers. The Financial Supervisory Commission (hereinafter referred to as FSC) has instructed Financial Information Service Co., Ltd. and the Bankers Association of the Republic of China to collaborate in establishing a "Payee Name Display Mechanism for Transfers," which will be promoted and implemented starting from the end of September 2025 (Year 114 of the Republic of China calendar). When the public makes transfers via ATM, online banking, or mobile banking, after entering the complete payee account number, the system will automatically display a partially masked payee name (e.g., "Wang O Ming") for verification. Before pressing the confirmation button, the public must carefully verify whether the payee name displayed on the screen matches the intended recipient to avoid transferring funds incorrectly or falling victim to fraud by impersonators.
Additionally, recently there have still been fraud groups impersonating FSC personnel (e.g., presenting fake FSC employee ID cards, fake official documents from the FSC or its subordinate bureaus/departments) through social media platforms and communication software, using various pretexts (e.g., claiming the public is involved in illegal money laundering and will have their accounts frozen, that personal data has been stolen or credit cards have been fraudulently used requiring fund protection, or offering assistance to complete failed transactions) to demand verification fees from the public, or requesting financial cards to be mailed. These are all tactics used by fraud groups, and the public is urged not to believe them.
The FSC solemnly reiterates: The FSC will absolutely not contact the public via SMS, LINE, or any social media software, nor will it ever ask the public to hand over financial cards or passbooks, or demand verification fees, security deposits, etc. The public is urged to remain highly vigilant and carefully verify information. If in doubt, you can call the "165" National Police Agency anti-fraud hotline to verify if it is a fraud scheme; you can also call the FSC at (02)8968-0899 to inquire if the FSC's name is being misused. The FSC reminds the public that a little more vigilance means a little less loss, and together we can protect our property safety.
Contact Unit: Banking Bureau, Regulations and Systems Division Contact Number: (02)89689632 For any inquiries, please write to: Our Public Opinion Mailbox
Page Views: 35
Update Date: 2026-07-07
Privacy Policy Statement |
Information Security Policy Statement |
Our Website Data Openness Statement |
Subscribe to Newsletter |
Latest Newsletter
Financial Supervisory Commission Copyright 220232 18F, No. 7, Section 2, Xianmin Blvd., Banqiao Dist., New Taipei City
FSC Electronic Map
Phone: (02)8968-0899
Fax: (02)8969-1215
Our New York Representative Office: 1 E.42 Street, 13F, New York, NY 10017, U.S.A. Contact Number: (1-212) 317-7326
Our London Representative Office: 46-48 Grosvenor Gardens London SW1W 0EB, UK Contact Number: (44-20)7628-1501
If you have specific suggestions for improving our global information website, please write to us. Thank you.
Update Date: 2026-07-07
Visitors: 61475060
Back to Top