Taichung Bank Execs Collude with Fraud Ring to Launder Money; FSC to Summon President
Six executives from Taichung Bank allegedly colluded with a fraud syndicate to launder over NT$3.6 billion. The FSC has summoned the bank's president for an explanation.
📋 Article Processing Timeline
- 📰 Published: April 23, 2026 at 20:46
- 🔍 Collected: April 23, 2026 at 21:02 (15 min after Published)
- 🤖 AI Analyzed: April 23, 2026 at 21:08 (6 min after Collected)
Central News Agency
(CNA Reporter Su Ssu-yun, Taipei, 23rd) The Taichung District Prosecutors Office stated that Hong Yue-peng, the head of Wanli Development Company, recruited six managers and assistant managers from Taichung Commercial Bank to open business accounts to assist gambling and fraud syndicates in laundering over NT$3.6 billion. The Financial Supervisory Commission (FSC) stated today that this case was discovered during a financial inspection last year and voluntarily forwarded to prosecutors. They will summon Taichung Bank's president for an explanation and will determine further punishments based on the investigation.
The Taichung District Prosecutors Office issued a press release today stating that Hong Yue-peng colluded with six Taichung Bank executives. He instructed them to abuse their authority to successfully open accounts for 12 dummy companies with no actual operations and increase the transfer limits for each account. When the accounts triggered money laundering alerts, the executives intentionally delayed reporting the anomalies to the competent authority, or even if reported, failed to suspend, restrict, or terminate the remittance transactions. The total amount laundered exceeded NT$3.6 billion.
Chang Chia-kuei, Deputy Director of the FSC's Banking Bureau, explained that the Examination Bureau discovered abnormal cash flows during a general business inspection at Taichung Bank in 2025. They proactively sent the relevant data to investigative units and provided additional information in January and March of this year as needed. When the Investigation Bureau interviewed the bank's staff and executives, Taichung Bank also reported the major incident to the FSC.
Chang pointed out that they will ask Taichung Bank's president to come to the commission for an explanation recently. Since the FSC discovered the case proactively, they have a certain degree of understanding, but as it is currently under judicial investigation, they cannot disclose further details.
Chang emphasized that financial institutions should fulfill their social responsibilities and protect customer assets. The FSC takes this case highly seriously and will not tolerate such situations. Further punishments will be made based on the level of the executives involved, their degree of responsibility, and the results of the investigation.
The media also focused on whether the Taichung Bank's board of directors was negligent, noting that former Chairman Wang Kuei-feng was indicted for embezzling NT$1.1 billion in public funds to rent luxury cars, yet he still serves as a managing director, questioning its appropriateness. Chang noted that punishments have been issued for past Taichung Bank cases. The FSC will monitor the board's execution during financial inspections and supervision, continuing to demand proper corporate governance. (Editor: Yang Lan-hsuan) 1150423
(CNA Reporter Su Ssu-yun, Taipei, 23rd) The Taichung District Prosecutors Office stated that Hong Yue-peng, the head of Wanli Development Company, recruited six managers and assistant managers from Taichung Commercial Bank to open business accounts to assist gambling and fraud syndicates in laundering over NT$3.6 billion. The Financial Supervisory Commission (FSC) stated today that this case was discovered during a financial inspection last year and voluntarily forwarded to prosecutors. They will summon Taichung Bank's president for an explanation and will determine further punishments based on the investigation.
The Taichung District Prosecutors Office issued a press release today stating that Hong Yue-peng colluded with six Taichung Bank executives. He instructed them to abuse their authority to successfully open accounts for 12 dummy companies with no actual operations and increase the transfer limits for each account. When the accounts triggered money laundering alerts, the executives intentionally delayed reporting the anomalies to the competent authority, or even if reported, failed to suspend, restrict, or terminate the remittance transactions. The total amount laundered exceeded NT$3.6 billion.
Chang Chia-kuei, Deputy Director of the FSC's Banking Bureau, explained that the Examination Bureau discovered abnormal cash flows during a general business inspection at Taichung Bank in 2025. They proactively sent the relevant data to investigative units and provided additional information in January and March of this year as needed. When the Investigation Bureau interviewed the bank's staff and executives, Taichung Bank also reported the major incident to the FSC.
Chang pointed out that they will ask Taichung Bank's president to come to the commission for an explanation recently. Since the FSC discovered the case proactively, they have a certain degree of understanding, but as it is currently under judicial investigation, they cannot disclose further details.
Chang emphasized that financial institutions should fulfill their social responsibilities and protect customer assets. The FSC takes this case highly seriously and will not tolerate such situations. Further punishments will be made based on the level of the executives involved, their degree of responsibility, and the results of the investigation.
The media also focused on whether the Taichung Bank's board of directors was negligent, noting that former Chairman Wang Kuei-feng was indicted for embezzling NT$1.1 billion in public funds to rent luxury cars, yet he still serves as a managing director, questioning its appropriateness. Chang noted that punishments have been issued for past Taichung Bank cases. The FSC will monitor the board's execution during financial inspections and supervision, continuing to demand proper corporate governance. (Editor: Yang Lan-hsuan) 1150423