First Commercial Bank Covers $500,000 Misappropriated by Phnom Penh Employee

First Commercial Bank’s Phnom Penh branch in Cambodia has reported an internal fraud case involving a locally hired employee who allegedly used online-banking access to misappropriate about $500,000 from customer accounts. The incident highlights the operational risks facing Taiwanese banks overseas, particularly around access controls, transaction monitoring and segregation of duties, while raising concerns about customer protection and confidence in cross-border banking operations.

As of July 24, 2026, First Commercial Bank said it had proactively contacted affected customers and replenished the roughly $500,000 in misappropriated funds, ensuring they suffered no financial loss. The bank also said it was strengthening its internal controls following the incident. Taiwan’s Financial Supervisory Commission Banking Bureau said the case was being handled under administrative procedures, with any regulatory penalties or findings of responsibility still pending.