The FSC’s action is based on deficiencies found in the Bank’s internal control system which resulted in inaccurate data reporting on credit card and personal credit extension business to the FSC and Joint Credit Information Center (JCIC). The inaccurate data reporting to the FSC and JCIC can be traced back to Dec 2010. The Bank is considered as lack of proper internal control mechanism on the regulatory data reporting and insufficiency on the implementation of the internal review process which resulted in violating Paragraph 1 of Article 45-1 of the Banking Act. The FSC therefore imposed an administrative fine of NT$6 million in accordance with subparagraph 7, Article 129 of the Banking Act.