HSBC Taiwan launches fraud prevention service for large over-the-counter transactions

HSBC Taiwan is taking the lead among foreign banks by introducing a new service designed to prevent fraud during large over-the-counter financial transactions. The "Designated Contact Person for Large Over-the-Counter Transactions Service" aims to add an extra layer of security for customers.

Following specific transactions such as large cash withdrawals, early fixed deposit cancellations, or remittances to non-personal accounts, the bank will send an SMS notification to a pre-designated contact person. This trusted individual, who can be a relative or spouse, will receive an immediate alert, enabling them to help the customer identify suspicious activity and reduce the risk of fraud.

This initiative builds on HSBC's ongoing commitment to creating a secure financial environment. The bank has been investing in resources, including AI and big data monitoring systems, to enhance its fraud detection capabilities. This new service, launched after the "Global Smart Fraud Network" in 2025, underscores HSBC's proactive approach to financial security.

Customers can apply for the service by visiting any HSBC branch with their identification. Once set up, significant transactions will trigger an SMS alert to the designated contact, ensuring timely awareness and protection. HSBC also utilizes digital processes for transaction confirmation and card management through its HSBC Card+ App, further safeguarding customer accounts against evolving digital threats.

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To build a financial environment that customers can trust, HSBC continues to invest resources, combining AI and big data to launch monitoring systems and improve process controls. Through training, we enhance colleagues' professional judgment and actively engage in financial fraud prevention campaigns for the general public. We hope that through comprehensive efforts, we can realize the 'Trustworthy Finance' vision proposed by the Financial Supervisory Commission.