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
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 Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.