Regulatory Alerts2025-04-25
Added
Taiwan Land Bank Salu Branch Former Employee Misappropriation Fine
The Financial Supervisory Commission imposed a NT$4 million fine on Taiwan Land Bank Co., Ltd. for failing to establish and execute an adequate internal control system. The penalty stems from a former employee at the Salu Branch who misappropriated NT$2,712,384 in utility fees and caused short collections between 2017 and 2024. The regulator cited violations of Article 45-1 of the Bank Act regarding internal control deficiencies in expense allocation and account management.
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