Taiwan’s financial regulator imposes a fine of $266,524 on Far Eastern International Bank

Far Eastern International Bank had deficiencies in the way it implemented SWIFT, a banking software, which North Korean hackers exploited to steal $60 million.

On Tuesday, Taiwan’s financial regulator fined Far Eastern International Bank $266,524 (T$8 million) for deficiencies related to its SWIFT system hacking incident.

The fine comes in the wake of Taiwanese local media reporting that hackers had tried to steal nearly $60 million from Far Eastern Bank, of which $500,000 had been recovered by the bank.

In October, British cyber-security firm, BAE Systems Plc, had said that a North Korean hacking group was most likely responsible for the cyber heist.

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