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COTA Commercial Bank, Ltd. was fined

COTA Commercial Bank, Ltd. was deemed to have deficiencies in its operations of anti-money laundering, trust business and credit asset evaluation. The deficiencies were in violation of the related regulations and disturbed the sound operation of the bank. The FSC thus imposed fines of NT$1.6 million on the bank in accordance with Paragraph 3, Article 7 of the Money Laundering Control Act and Paragraph 1, Article 30-1 of the Financial Consumer Protection Act; the bank was ordered correction in accordance with Paragraph 1, Article 61-1 of the Banking Act.

Visitor: 1077   Update: 2019-01-14