Radio Taiwan International
Date: 2018-01-18

Three US branches of the Taiwan-based Mega International Commercial Bank have been fined US$29 million by the US Federal Reserve for money-laundering violations. That’s the word from the Taiwan office of the bank on Thursday. The three branches are in New York, Chicago and Silicon Valley.

The latest penalty for Mega Bank came after New York State’s Department of Financial Services fined the New York branch US$180 million in August 2016 for the same violations.    [FULL  STORY]