The FSC recently discovered a failure by Shanghai Commercial & Savings Bank to properly establish and sufficiently implement internal controls to ensure customer data confidentiality and information security. These problems were found to constitute violations of Article 45-1, paragraph 1 of the "Banking Act" as well as Article 3 and Article 8, paragraph 1, subparagraph 2, item 2 of the "Implementation Rules of Internal Audit and Internal Control System of Financial Holding Companies and Banking Industries" (issued upon the authority of Article 45-1, paragraph 1 of the "Banking Act"). An administrative fine of NT$10 million was imposed in accordance with Article 129, subparagraph 7 of the "Banking Act."