AI anti-fraud locks account disasters! Bank accounts are unusable, causing public grievances.

In recent years, fraud cases in Taiwan have been rampant. To strengthen the crackdown on fraud groups, the Financial Supervisory Commission and the police have implemented several measures, including the freezing of suspicious accounts, restrictions on transfers, and AI monitoring of high-risk transactions. However, these measures have recently caused a "lock account disaster," with many innocent people's accounts being locked without warning, leading to inconvenience in their lives and widespread public grievances.

Fraud is rampant in Taiwan, and banks are introducing AI systems to combat it.

In recent years, fraud cases in Taiwan have been rampant. To strengthen the crackdown on fraud groups, especially regarding money laundering through human accounts, the Financial Supervisory Commission has joined forces with 35 banks, AI startups, and the Criminal Investigation Bureau to promote the "Eagle Eye Fraud Identification Alliance." This alliance utilizes AI models to analyze vast amounts of financial data, detect suspicious cash flows and abnormal behaviors, and share risk models with participating banks.

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As the largest bank for digital deposit accounts, Taishin Bank has also launched the "Taishin War God" AI system, which uses AI technology to provide early warning notifications and preemptively control potential high-risk accounts. They have signed a memorandum of cooperation with the Northern District Prosecutor's Office to monitor high-risk accounts and jointly combat significant fraud cases. It is reported that in 2024, they have blocked 612 warning accounts, with an amount close to 70 million.

In addition, institutions such as Taiwan Bank, Cooperative Bank, KGI Bank, and the post office have also initiated freezes on "long-term inactive" or "low balance" accounts, restricting automatic transactions.

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Fraud has gone too far, innocent citizens have their accounts locked.

According to TVBS reports, on the eve of the Mid-Autumn Festival holiday, many depositors were left in chaos by the banks' "AI account locking"! Some citizens found their accounts restricted after simply using mobile payments to buy breakfast or refuel; others had their automated trading functions halted after receiving a few small transfers related to group purchases of Korean band merchandise; many salary transfer accounts were affected, forcing them to take leave to rush to the bank for unfreezing. The operators responded that they were conducting suspected high-risk list control and that restrictions could be lifted after confirming the legitimacy of the cash flow.

However, the public must personally visit the branch during working hours to explain the cash flow line by line, and even wait for AI approval to unlock the information, which has made many people complain about the inconvenience, not to mention that even those who are not part of a fraud group are being affected.

The Financial Supervisory Commission emphasizes that there is no room for compromise in "preventing fraud and blocking scams."

In response, Financial Supervisory Commission Chairman Peng Chin-long stated that the financial industry is a "victim" in the fraud issue, rather than a "perpetrator." The Commission will continue to support the financial industry's anti-fraud measures, while also urging businesses to review excessive practices, emphasizing that "there is no room for compromise in fraud prevention and deterrence."

Peng Jinlong pointed out that the financial industry has long assisted the public with convenient and fast services, but this characteristic has instead provided opportunities for fraud groups. He reiterated that the Financial Supervisory Commission will not relax regulations due to some controversial cases, but will continuously optimize methods to achieve more precise fraud prevention and has asked the Bankers Association to establish a "Fraud Prevention Committee" responsible for planning various countermeasures.

However, this statement has also sparked dissatisfaction among netizens, who shouted, "If everything is locked up, no one would be deceived!"

This article discusses AI fraud prevention and the issues with locked accounts! The inability to use bank accounts has led to public grievances, first reported by Chain News ABMedia.