May 22 2017
Taiwanese prosecutors said on Monday they will not indict Mega Financial Holding Co Ltd for violating anti-money laundering rules, after allegations were brought against it by U.S. authorities.
Prosecutors said that while Mega Financial, one of Taiwan’s five-biggest financial firms, may have violated U.S. rules out of ignorance, there was no evidence of intentional wrongdoing.The probe sparked criticism about the effectiveness of the island’s financial regulator and led to the resignation of the Financial Supervisory Commission’s chairman.