Taichung Commercial Bank Staff Accused of Colluding With Fraud Ring; FSC Pursues Senior Management Accountability

The Taichung District Prosecutors Office alleges that Hung Yueh-peng, head of Wan Li Development, recruited four managers and two assistant managers at four Taichung Commercial Bank branches between September and October 2024 and April 2025. They allegedly opened accounts for 12 shell businesses, raised transfer limits and facilitated suspicious transactions. Bank insiders serving as conduits for money laundering would undermine trust in financial institutions’ frontline fraud defenses and internal controls.

On April 23, 2026, prosecutors indicted Hung and six bank executives on charges including fraud, money laundering and special breach of trust, involving more than NT$3.6 billion in fund flows. On May 12, the Financial Supervisory Commission also found failures in account-opening reviews and transaction monitoring involving 10 branches and 21 corporate customers. It fined the bank NT$32 million, ordered its president to appear before the regulator and gave it two months to review the accountability of supervisory personnel at both branch and head-office levels under its "responsibility map."