Regulatory Alerts2026-07-13
Added · Updated
Financial Supervisory Commission Penalty Against China Trust Commercial Bank for Internal Control Failures
China Trust Commercial Bank Co., Ltd. is fined NT$4,000,000 for failing to properly establish and execute its internal control system, which allowed a former employee to misappropriate approximately NT$2,970,000 in ATM and financial clearing funds over ten months. The penalty addresses specific violations of the Banking Act and Implementation Measures for Internal Control and Audit Systems, citing missing controls for long-aging fund returns and inadequate sampling review mechanisms. The fine must be paid within 10 days of the decision's service, with an appeal window of 30 days available through the Executive Yuan.
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