[Taichung Bank] Announcement of Explanation Regarding Penalty Case by FSC
Taichung Commercial Bank announced on May 12, 2026, that it has been fined NT$32 million by the FSC for deficiencies in account opening, customer due diligence, and account monitoring, violating banking and anti-money laundering laws.
📋 Article Processing Timeline
- 📰 Published: May 12, 2026 at 09:00
- 🔍 Collected: May 13, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 13, 2026 at 09:34 (1h 34m after Collected)
1. Fact Occurrence Date: 2026/05/12
2. Subject of Occurrence: Parent Company
3. Reason for Occurrence (Event Description): According to the FSC's press release dated May 12, 2026, Taichung Commercial Bank, in its operations concerning deposit account opening, customer due diligence, and account monitoring mechanisms, exhibited related deficiencies, failing to adequately establish and diligently implement its internal control system. This constitutes a violation of Article 45-1, Paragraph 1 of the Banking Act and its authorized "Enforcement Rules for the Implementation of Internal Control and Audit Systems for Financial Holding Companies and Banks" Articles 4, Paragraph 1, and Articles 12, Paragraph 1 and 3, as well as Articles 3, 5, 6, 9, and 15 of the "Regulations Governing Money Laundering Prevention for Financial Institutions" authorized by the Money Laundering Control Act.
4. Process of Handling: Improvement matters will be handled in accordance with the regulator's opinions.
5. Penalty Details: A fine of NT$32,000,000 has been imposed.
6. Whether a Fine Was Imposed: Yes
7. Fine Amount (NT$): 32,000,000
8. Potential Loss or Impact: NT$32,000,000.
9. Amount of Insurance Claim Obtainable (NT$): Not applicable
10. Improvement Status and Future Response Measures: The company will carry out improvement matters as directed by the competent authority. All company operations are normal, and capital adequacy is not in question.
11. Whether a Material Announcement Was Previously Made Regarding the Same Event: No
12. Other Matters to be Noted: None
Keywords: Material Information
2. Subject of Occurrence: Parent Company
3. Reason for Occurrence (Event Description): According to the FSC's press release dated May 12, 2026, Taichung Commercial Bank, in its operations concerning deposit account opening, customer due diligence, and account monitoring mechanisms, exhibited related deficiencies, failing to adequately establish and diligently implement its internal control system. This constitutes a violation of Article 45-1, Paragraph 1 of the Banking Act and its authorized "Enforcement Rules for the Implementation of Internal Control and Audit Systems for Financial Holding Companies and Banks" Articles 4, Paragraph 1, and Articles 12, Paragraph 1 and 3, as well as Articles 3, 5, 6, 9, and 15 of the "Regulations Governing Money Laundering Prevention for Financial Institutions" authorized by the Money Laundering Control Act.
4. Process of Handling: Improvement matters will be handled in accordance with the regulator's opinions.
5. Penalty Details: A fine of NT$32,000,000 has been imposed.
6. Whether a Fine Was Imposed: Yes
7. Fine Amount (NT$): 32,000,000
8. Potential Loss or Impact: NT$32,000,000.
9. Amount of Insurance Claim Obtainable (NT$): Not applicable
10. Improvement Status and Future Response Measures: The company will carry out improvement matters as directed by the competent authority. All company operations are normal, and capital adequacy is not in question.
11. Whether a Material Announcement Was Previously Made Regarding the Same Event: No
12. Other Matters to be Noted: None
Keywords: Material Information