Prosecutors yesterday closed a case in which Mega International Commercial Bank was suspected of violating the Money Laundering Control Act (洗錢防制法), citing a lack of evidence.
After nine months of investigation, no evidence was found to indicate that the bank had facilitated money laundering, they said.
The investigation was launched after the New York Department of Financial Services in August last year imposed a US$180 million fine on Mega Bank after identifying “a number of suspicious transactions” between its New York and Panama branches.
Mega Bank was accused of not complying with the US Bank Secrecy Act, which is also known as the law against money laundering, when it failed to report suspicious transactions made by its clients.
Taipei District Prosecutors’ Office spokesman Chang Chieh-chin (張介欽) said that Mega Bank was fined mainly because its New York branch failed to report 110 debit authorizations received from the branch in Panama in 2012.
Prosecutors found that the violation was mainly due to the branch’s lack of understanding of US law against money laundering.
As part of the investigation, prosecutors checked 17,033 remittance transactions between the bank’s New York and Panama branches, but did not discover any acts of money laundering, Chang said.
The Ministry of Finance this afternoon announced the winning numbers for the March-April uniform invoice lottery. The winning number for the NT$10 million (US$318,060) special prize is 19531471, and the winning number for the NT$2 million grand prize is 85941329. Three numbers were drawn for the NT$200,000 first prize: 07225810, 20231230 and 83518781. Those with receipts matching the last seven digits of any of the first-prize numbers will win the NT$40,000 second prize, while those matching the last six digits will win the NT$10,000 third prize. Those whose receipts match the last five digits of the first-prize numbers can claim the NT$4,000 fourth prize,
SIX SUBSIDIES: The monthly allowance for older farmers is to increase to NT$10,000, and NT$5,000 is to be given to homemakers under the national pension system, Lai said The government is to implement major welfare policies for disadvantaged groups, including raising the monthly allowance for older farmers to NT$10,000 and providing homemakers with NT$5,000 per month, President William Lai (賴清德) said yesterday. Lai made the remarks during a visit to Wangling Temple in Chiayi County, saying that the planned increases were being introduced amid economic growth and an increase in tax revenue. Touting a policy, in which the government plans to provide a monthly allowance of NT$5,000 for every child under the age of 18 in a bid to address Taiwan’s low birthrate, Lai said that if received for the
STAY COOL: The HPA recommended that people stay hydrated, use air-conditioning or fans while indoors, wear loose-fitting clothes and walk in the shade while outdoors Employers must implement measures such as installing cooling equipment, and providing drinking water and rest breaks for outdoor workers starting from Monday next week, the Taipei Department of Labor said on Sunday. Employers who fail to comply could face fines of NT$30,000 to NT$300,000 under the Occupational Safety and Health Act (職業安全衛生法), the department said. Businesses in Taipei employing fewer than 100 workers, as well as registered self-employed workers with labor insurance coverage, could receive on-site assessments and guidance from occupational safety consultants to help them apply for central government subsidies to implement or improve heat-protection measures, it said. Under the Ministry of
ISOLATION: The outposts would serve as support and backup bases, forcing US forces to either face China head-on or reroute, increasing travel time and operational costs China’s outposts in the South China Sea could be used to delay and constrain foreign forces during a conflict in the Taiwan Strait, giving Beijing a critical window to carry out amphibious landing and blockade operations, a report said. The Chinese Communist Party’s (CCP) forward operating bases on islands and reclaimed features in the South China Sea could delay foreign forces long enough for the Chinese People’s Liberation Army (PLA) to secure a key 48-to-72-hour window in the Taiwan Strait, a report commissioned by the Mainland Affairs Council found. The report, conducted by the Institute for National Defense and Security Research, examined
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