Chunghwa Telecom and Taiwan Business Bank partner on anti-fraud tech
中華電信與台灣企業銀行合作開發反詐騙技術
TAIPEI (Taiwan News) — Chunghwa Telecom said Wednesday that it has partnered with Taiwan Business Bank to integrate its new SIM swap fraud prevention technology into the bank's financial applications, aiming to enhance individuals’ financial security and reduce potential risks to the broader financial system.
When customers perform mobile payment transactions, the bank’s system can use Chunghwa Telecom’s platform to check whether the associated mobile number has recently shown any unusual SIM card replacement activity. If potential risk signals are detected, the bank will carry out risk verification or activate blocking measures, per CNA.
In telecom fraud cases, criminal groups often obtain a victim’s personal information and impersonate them to request a SIM card replacement from a telecom provider, according to Chunghwa Telecom. Once the new SIM card is activated, the victim’s phone number can fall under the scammer’s control, allowing unauthorized digital financial transactions.
The telecom added that SIM swap fraud is difficult to detect because scammers typically act quickly, with only a short window between taking over a phone number and initiating fraudulent transactions. Without early warning mechanisms, such activity can pose a serious threat to account security.
Chunghwa Telecom Chair Chien Chih-cheng (簡志誠) said the company’s SIM swap fraud prevention technology made it the first telecom operator in Taiwan to receive GSMA Open Gateway certification last year. He pledged that the company will continue to support the government’s anti-fraud initiatives and collaborate with industries to combat scams through technological innovation.
In October, the telecom also introduced a new technology that uses big data analytics to detect when a single mobile number sends an unusually high volume of text messages in a day. The system can immediately block such activity, reducing the public’s exposure to suspicious or fraudulent messages.
Additionally, Far EasTone Telecom has launched an AI-powered fraud detection system that automatically blocks suspicious phone numbers and spam messages. As of last year, the system had successfully blocked over 5.23 million overseas scam calls and more than 11.63 million fraudulent text messages.