Taiwan Banks Suspend Cash Withdrawals At ATMs

I can’t stress enough the importance of holding cash outside the financial system.

You never know when an ’emergency’ (false-flag) may strike.  According to this Reuters report 3 major banks in Taiwan have halted ATM transactions.

At least three major Taiwan banks have suspended cash withdrawal services at their Automated Teller Machines after First Bank reported T$70 million ($2.2 million) was stolen from its ATMs.

Two individuals withdrew cash from First Bank’s ATMs but were not seen on close-circuit TV camera to be physically operating the machines, First Bank said in a statement. The bank discovered the theft on Monday.

The theft took place at ATMs manufactured by Wincor Nixdorf, First Bank’s Executive Vice President Yeh Chung-huei said, adding it has about 300 of such ATMs. First Bank is the banking arm of First Financial Holding.

“We reported to the police yesterday…We’ve not decided when to resume the service of those machines,” Yeh said.

Initial investigations by police showed the theft was due to malware, he said.

As a precaution, Chang Hwa Bank confirmed to Reuters it had halted operations at some ATMs made by the German company, and state-owned Chunghwa Post Co said in a statement it had also suspended some ATMs.

(Please note an earlier version of this story had an incorrect picture of a Singapore bank. We fixed the error to reflect the correct bank. Thanks To S.A. for politely pointing out our mistake.)

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