Taiwan: Officials Trumpet Successes Fighting Money Laundering

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Police officials touted their success in fighting money laundering, after confiscating NT$3.688 billion (US$117.59 million) in the first half of the year, while law enforcement agencies launched a networking platform to facilitate investigation of financial crimes.

The National Police Agency (NPA) on Wednesday presented data showing that it had investigated 534 cases of suspected money-laundering over the period, about 100 of which involved channeling illegal proceeds from Taiwan to China.

China was followed by its two special administrative regions, Hong Kong and Macau, as the top three international money laundering destinations, followed by Malaysia in fourth place, while the Philippines, Indonesia and Vietnam tied for fifth place, the data showed.

The confiscated money was eight times the amount seized during same period last year, NPA data showed.

Read the original article here: taipeitimes.com


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