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Shin Kong Commercial Bank Co., Ltd fined

When conducting money-laundering prevention operations, the Bank did not properly carry out customer due diligence and ongoing monitoring procedures and also failed to report large cash transactions; thus, was in violation of Article 45-1 of the Banking Act. The FSC imposed a fine of NT$4 million under Subparagraph 7 of Article 129 of the Act at the time of the conduct occurred.

Visitor: 804   Update: 2019-10-17