Hong Kong woman shocked to find only NT$5 left in Taiwanese bank account after over 400 unauthorised transactions

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Source: EBC News

31st May 2024 – (Taipei) A Hong Kong woman, identified as Ms. Yip, opened an account with CTBC Bank in Taiwan and deposited NT$74,000 (approximately HK$18,000) in September 2020. The account balance grew to NT$250,000 (approximately HK$61,000). However, when Ms. Yip recently returned to Taiwan and checked her account due to a need for funds, she was astonished to discover that her deposit had been divided into over 400 unauthorised transactions, leaving only NT$5 (approximately HK$1.20) remaining. Despite her efforts to negotiate with the bank, Ms. Yip was unable to resolve the issue and had no choice but to report it to the police. CTBC Bank stated that disputed claims must be made within 120 days of the transactions, but the account in question had exceeded this timeframe. The bank assured that it would fully cooperate with any subsequent legal investigations.

The Hong Kong woman, Ms. Yip, who operated a catering business, opened an account with CTBC Bank  in Taiwan. After depositing NT$74,000 in September 2020, the account balance remained untouched, accumulating to NT$250,000 over time.

Due to the pandemic, Ms. Yip left Taiwan but recently returned to handle her finances, specifically to pay her child’s tuition fees. However, when she checked her account balance, she was shocked to find only NT$5 remaining. She discovered that the account had recorded over 400 transactions between June 2022 and September 2023, depleting the funds until only NT$5 was left.

Ms. Yip had initially planned to address the matter after the pandemic, believing her money would be safe in the bank. She expressed her frustration with the situation, stating that on the first day of her return to Taiwan, she immediately sought answers but received no substantial response from the bank. She felt like a pawn in a game, being passed around by the bank. Ms. Yip emphasised that she had never used the account for any transactions and had already reported the incident to the police. However, she felt that the bank lacked sincerity in resolving the issue.

Ms. Yip further criticised the bank, stating that if they failed to apprehend the suspect, they would not compensate her, which she deemed irresponsible. In response to inquiries from Taiwanese media, CTBC Bank explained that they sent monthly letters and text notifications to account holders, but Ms. Yip did not respond. The bank also highlighted that disputed claims must be made within 120 days of the transactions, which had already exceeded the specified time limit. They emphasised their commitment to fully cooperate with any future legal investigations.