Brief: Taiwan says local banks sent 211 wire transactions $5.8 mln to Mega's Panama branch

Mega Financial Holding Co

03/11/2016 12:52

Nov 3 (Reuters) - Taiwan's cabinet gave the following 
details on Thursday on local banks' wire transactions to Panama: 
     
    * Local banks sent 211 wire transactions totaling $5.82 
million to Mega Financial Holding's  2886.TW  Panama branch in 
2012-2014. 
    * Local banks sent 42 wire transactions totaling $1.6 
million to Mega's Colon branch in 2012-2014. 
    * Prosecutors are looking into whether these transactions 
involved in money laundering activities. 
    * Most of these transactions were for accounts owned by 
Taiwan diplomats living overseas and employees of Taiwan 
shipping firms.  
    * The Taiwan government launched investigations in August 
after state-run Mega's New York branch agreed to pay $180 
million to New York state's financial regulator for anti-money 
laundering rule violations, which included lax attention to risk 
exposure in Panama.  urn:newsml:reuters.com:*:nL4N1CQ1B9  urn:newsml:reuters.com:*:nL3N1B0416 
     
Further company coverage:  2886.TW  
 
 (Reporting by Faith Hung) 
 ((faith.hung@thomsonreuters.com;))