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Violation Tracker Individual Record

Company: Mega International Commercial Bank Co., Ltd.
Penalty: $29,000,000
Year: 2018
Date: January 17, 2018
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Secondary Offense: banking violation
Mega-Scandal: Anti-Money Laundering Deficiencies
Violation Description: The Federal Reserve Board announced a $29 million penalty against the U.S. operations of Mega International Commercial Bank Co., Ltd., of Taipei, Taiwan, for anti-money laundering violations and required the firm to improve its anti-money laundering oversight and controls.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.