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Mega Bank fined US$180 million in U.S.

2016/08/19 23:17:49

Taipei, Aug. 19 (CNA) Mega International Commercial Bank's New York branch has been slapped with a US$180 million fine for violating the U.S. Bank Secrecy Act, sometimes referred to as an anti-money laundering law, the company said Friday.

The violation involves remittance transactions in 2012 and was discovered by the New York State Department of Financial Services during a routine inspection conducted between January and March 2015, according to Taiwan's Ministry of Finance.

(By Tien Yu-pin and Y.F. Low)