The FSC has recently imposed a fine on CTBC Bank due to serious misconduct by a former wealth manager. This employee embezzled client funds, advised clients to engage in rapid transactions, and conducted online banking on behalf of customers. These actions revealed significant shortcomings in the bank’s continuous monitoring of accounts and transactions, as well as a failure to establish and enforce an internal control system. These deficiencies constituted simultaneous violations of various financial regulations, including the “Regulations Governing Anti-Money Laundering of Financial Institutions,” the “Banking Act,” and the “Implementation Rules of Internal Audit and Internal Control System of Financial Holding Companies and Banking Industries.”
In accordance with the Administrative Penalty Act, the FSC has imposed a fine of NT$10 million on CTBC Bank, as stipulated in the Banking Act.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}