Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
Anti-money-laundering control deficiencies
The Hong Kong Monetary Authority fined Fubon Bank HKD 4 million for failing to establish effective transaction-monitoring procedures and to conduct appropriate scrutiny of customer transactions under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. Because IBA had been renamed in 2005, the enforcement action applied to the successor institution rather than to the IBA brand as an active entity.
2024
Anti-money-laundering control penalty involving successor bank
The Hong Kong Monetary Authority fined Fubon Bank (Hong Kong) HKD 4 million for shortcomings in transaction monitoring and the scrutiny of customer transactions. Because IBA had been renamed in 2005, the enforcement action applied to the successor institution rather than to the IBA brand as an active entity.