Prosecutors conduct raids in Mega case

Taiwan News
Date: 2016-08-23
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Prosecutors visited the headquarters of Mega International Commercial 6772687Bank, the Ministry of Finance and the Financial Supervisory Commission Tuesday to read documents related to the fine in the United States for money-laundering allegations.

Mega International Commercial Bank was fined US$180 million (NT$5.7 billion) by New York State’s Department of Financial Service (DFS) for a number of allegedly suspicious transactions between its branches in New York and Panama.

After the government and prosecutors announced they would investigate the bank in Taiwan, prosecutors took action Tuesday morning and visited the three locations.

According to media reports, investigators will be looking for violations of the Banking Act, the Financial Holding Corporation Act and the Money-Laundering Prevention Act.     [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.