DEAL DONE:The bank’s New York branch was facing a bigger fine, but central bank Governor Perng Fai-nan helped facilitate negotiations to reduce it, the premier said
Taipei Times
Date: Aug 31, 2016
By: Chen Wei-han / Staff reporter
The Executive Yuan yesterday formed a supervisory task force to facilitate an investigation into a
Premier Lin Chuan, right, takes part in a press conference in Taipei yesterday about a breach of US money laundering regulations by Mega International Commercial Bank’s New York branch. Photo: CNA
breach of US money laundering rules by Mega International Commercial Bank’s (兆豐銀行) New York branch.
The task force, consisting of legal and finance experts — including lawyer Chen Chuan-yueh (高涌誠), former Judicial Reform Foundation director Kao Yung-cheng (高永成), former Bank of Taiwan chairman Lu Chieh-cheng (呂桔誠), former First Commercial Bank (第一銀行) chairman Michael Chang (張兆順) and former Land Bank of Taiwan (土地銀行) chairmen Tsai Jer-shyong (蔡哲雄) and Wu Fang-chih (吳藩志) — is to gauge public opinion regarding the case and facilitate probes by the Financial Supervisory Commission (FSC) and the Ministry of Justice.
“The Executive Yuan will get to the bottom of the case and hold accountable all of the people responsible,” Premier Lin Chuan (林全) told a news conference.
The FSC interviewed 28 Mega Bank officials, while the ministry is looking into suspicious accounts at the New York branch, Lin said, although little was revealed about the progress of the investigation. [FULL STORY]
