Taiwan bank in Taipei probe after being slapped with US fine
Taipei
TAIWAN is investigating if Mega Financial Holding Co and its banking unit broke local criminal laws in a case that has led to the US authorities fining the state-controlled group US$180 million for anti-money laundering violations.
New York authorities on Friday slapped Mega International Commercial Bank with the fine for violations that included lax attention to risk exposure in Panama, the first time in a decade that a Taiwan-based financial institution has been penalised by US authorities.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
MAS ‘following up’ with DBS on cause of May 2 glitch in digital banking services