TAIPEI (Taiwan News) – The Ministry of Economic Affairs fined a Chinese company registered in Singapore NT$2.17 million (US$65,750) for upgrading the credit card system of Cathay United Bank, reports said Tuesday.

Economics Minister Kuo Jyh-huei (郭智輝) said an investigation showed that Any Technology or AnyTech, while based in Singapore, was controlled by China’s Rivere Tech, which in turn was majority owned by state-run funds. Suspicions arose given it could have gained access to the credit cards of a Taiwanese bank with millions of clients, per CNA.

Cathay United Bank said it terminated its contract with AnyTech on Feb. 24 and had not used its systems, CNA reported. An investigation by CHT Security Co., Ltd. completed on March 14 showed that no backdoors or questionable elements had been introduced to the credit card system by AnyTech. No private data had been leaked during the cooperation between the two companies, according to the bank.

The Financial Supervisory Commission reminded financial institutions to pay attention to the safety of customer data. Legislators said the government should intervene in related matters.