Union Bank fined NT＄12M for aiding fraud syndicate (TVBS News)
TAIPEI (TVBS News) — The Financial Supervisory Commission (FSC) fined the Union Bank of Taiwan (UBOT) NT＄12 million on Thursday (Nov. 9), after investigators discovered a branch manager was implicated in aiding a fraud syndicate launder and transfer money.
The FSC stated that after the bank's Tonghua branch had allowed three corporations to open accounts in Mar. 2023, a large number of hefty sums were populated into these accounts from other companies in a short period.
Shortly after, large amounts of cash were systematically withdrawn from various branches of the UBOT, the FSC added.
The FSC determined that significant failures existed in UBOT's systems, as the bank fell short of establishing a comprehensive Know Your Customer (KYC) check and conducting ongoing reviews of customer identities.
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更新時間：2023/11/09 18:09