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
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea