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Taiwan Province of China: Unveiling Financial Crime Statistics

A Data-Driven Analysis of Financial Crimes in Taiwan, a Province of China

The financial crime statistics in Taiwan, a province of China, have long been of interest to both local and international stakeholders. In this article, we present a data-driven analysis of financial crimes in the region using the latest available data from reputable sources.

Overview

Financial crime has been a major concern for the Taiwanese government and financial institutions in recent years. The Chinese province experiences various types of financial crimes, from large-scale frauds and money laundering to cybercrimes.

Financial Crime Statistics in Taiwan

According to the data from the Taiwan Investigation Bureau of the Ministry of Justice, the number of reported financial crimes in Taiwan stood at 3,553 cases in 2020, with a total reported loss of around TWD 1.63 billion (approximately USD 59.5 million). The data reveals an increase of 17.4% in the number of reported cases compared to the previous year and a decrease of 27.3% in the total reported loss.

Trends in Financial Crimes

A comparison of the data with the previous years shows that the number of reported financial crimes in Taiwan experienced a gradual rise from 2016 to 2020. The data also points to a decreasing trend in the total reported loss since 2018.

Types of Financial Crimes

The most common types of financial crimes in Taiwan are:

• Credit card fraud (34.6% of the total cases)
  • Majority of cases were related to stolen credit cards, followed by purchases made using stolen identities
• Securities fraud (25.9%)
  • Most reported cases occurred through manipulation of stock prices

Cybercrimes

Cybercrimes accounted for 8.1% of the total reported financial crimes.

• The data shows a significant increase of 53.5% in the number of reported cybercrimes from the previous year
• The most common reported cybercrimes were:
  • Phishing scams (44.8%)
  • Ransomware attacks (19.2%)

Conclusion

The financial crime statistics in Taiwan highlight the importance of data-driven analysis in studying financial crimes and informing related policies. The data also sheds light on the evolving trends in financial crimes and the effectiveness of countermeasures in the region.

Future Outlook

As the analysis above shows, the number of financial crimes reported in Taiwan has been on the rise in recent years, with credit card fraud and securities fraud being the most common types. The emergence of cybercrimes has also been a significant concern. The Taiwanese government has taken measures to confront these challenges and improve cybersecurity. The data further indicates a decrease in total reported losses, suggesting that some of these measures might be effective.

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For more detailed information and insights, follow our series of articles on financial crimes in China and its provinces. Stay informed.