Two bank executives removed for accepting kickbacks in China
Feb 01, 2018Government & PoliticsComments Off on Two bank executives removed for accepting kickbacks in China
Taipei, Two Chang Hwa Bank (CHB) executives from the Dongguan Branch in China have been removed from their positions after an internal investigation discovered they accepted illegal payments, according to the chief of National Treasury Administration (NTA) Thursday.
NTA Director-General Juan Ching-hwa (???) said the incident happened at the Dongguan Branch in Guangdong Province which has operated for only a few years.
CHB's Dongguan Branch was officially opened on Nov. 19, 2014, according to its official website.
On Jan. 23, CHB held a press conference on the matter where its Chairman Chang Ming-daw (???) said the two individuals involved received illegal payments for the duration of their time at the Dongguan branch, which was over a year.
The duo received a total of approximately 50,000 Chinese Yuan, which is about NT$232,390 (US$7,939), Chang added.
Both confirmed they received illicit payments and have been given serious demerits on their record, said Juan, adding that they have also been removed from their positions, while Chang Hwa Bank has submitted an investigation report to the prosecutor's office for further consideration.
Chang Hwa Bank is continuing the investigation to determine whether other personnel were involved, said Juan.
The Ministry of Finance (MOF) has a strict "zero tolerance" policy on the conduct of staff at state affiliated banks, said Juan.
The MOF has instructed CHB to investigate the situation and sent a notification asking other state affiliated banks to maintain discipline, said Juan, adding that a request has been made to ensure staff receive the correct values training.
"CHB is a local (Taiwanese) hundred-year-old enterprise and we believe that in terms of unethical behavior we are talking about a few bad apples," said Juan.
The origins of CHB can be traced back to Taiwan's colonial era under Japanese rule in 1905, where the bank was originally known as the Kabushiki Kaisha Shoka Ginko.
It was reorganized as CHB after 1945 and formally re-incorporated under Republic Of China Law on March 1, 1947.