The Financial Supervisory Commission says punishments may follow any new proof of illegal action by Mega Bank. This is in light of reports that the bank’s Chicago branch had breached local trade regulations. In August, the bank’s New York branch was fined US$180 million by New York authorities for violating anti-money laundering regulations.
The bank said that during an annual check this year, the Chicago branch was found to have neglected to adhere to some regulations. The bank changed its manager in June and the case remains open. The bank has also presented a proposal to change the issues. The bank’s chairman is now in the US to discuss the situation with US authorities in New York and Chicago.
Authorities in Taiwan are also investigating financial officials and will punish relevant persons if there is new evidence of illegal activity.