Taiwan launches Anti-Money Laundering Office to improve supervision

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The Taiwan government launched a new agency to tackle money laundering and to maintain financial order and security. Premier Lin Chuan (林全) said at the new office opening ceremony Thursday that the agency is designed to improve the government’s anti-money laundering supervision and to coordinate policies to meet various challenges from growing international terrorist activities to drug trafficking.   

The Anti-Money Laundering Office is created under the Executive Yuan and will be composed of professionals from different fields in both the public and private sectors. More professionals will be recruited to help the government incorporate new technology to combat criminal activities.

The office has the mission to beef up the money laundering prevention works in line with international standards prior to the launch of the third round of the Asia/Pacific Group on Money Laundering (APG) mutual evaluation, hoping eventually to set up a new model for anti-money laundering compliance, the premier said.

Read more here: taiwannews.com.tw

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