US authorities had warned Mega International Commercial Bank’s New York branch that it had violated US money laundering regulations as early as 2013, after the bank dramatically increased the size of loans to businesses affiliated with the Chinese Nationalist Party (KMT), Democratic Progressive Party (DPP) legislators said yesterday.
The nation has transformed itself from an authoritarian state into a democracy, and Taiwanese are now hoping to throw off the one-party state past with the implementation of long overdue transitional justice reforms. However, judging by remarks by Chinese Nationalist Party (KMT) Chairwoman Hung Hsiu-chu (洪秀柱) and her predecessors, the KMT remains stuck in its “party-state” days.
Hung met on Friday with four of her predecessors to discuss the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例).