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Taiwan maintains excellent ratings on money laundering prevention

  • Publication Date:
  • Last updated:2024-09-04
  • View count:272

The Asia/Pacific Group on Money Laundering's (APG) Mutual Evaluation Committee announced at its online meeting Tuesday that Taiwan has maintained its favorable "regular follow-up" status with the unanimous endorsement of APG members, based on the results of Taiwan's 2023 follow-up report. This continues Taiwan's placement in the APG's "regular follow-up" category after its previous mutual evaluation report in 2021.

The Executive Yuan's Anti-Money Laundering Office stated that the creation of the 2023 follow-up report was a collaborative effort between many government bodies, including the Judicial Yuan, Ministry of Justice, Financial Supervisory Commission, Ministry of Economic Affairs, Ministry of Finance, Ministry of the Interior and Ministry of Digital Affairs. Their joint contributions enabled the successful completion of the latest report's mutual evaluation by the APG. The thorough, detailed report helped the international community recognize the recent achievements and diligence of Taiwan's government in its fight against money laundering and the financing of terrorism and weapons proliferation.

Taiwan's 2023 follow-up report covers three key areas: (1) Regulations governing anti-money laundering and countering the financing of terrorism and weapons proliferation for jewelry businesses, notaries, certified public accountants, certified bookkeepers and tax return filing agents, land administration agents and real estate brokers, lawyers, third-party payment services, and other designated non-financial businesses and professions. (2) Regulations governing anti-money laundering and countering the financing of terrorism and weapons proliferation for virtual asset service providers. (3) The launch of an information exchange platform for countering money laundering and the financing of terrorism and weapons proliferation, in response to APG recommendations to continue strengthening coordination mechanisms between government agencies and further improving information exchange flows between the public and private sectors.

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