Taiwan bank in Taipei probe after being slapped with US fine
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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.
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