Court Order Not Issued in Money Laundering Case; Action Halted
A court order was expected to be issued in a money laundering case, but the prosecutor failed to apply for one within the three-day deadline. As a result, the action has been halted immediately.
Discretionary Court Order
The judge had the discretion to decide whether to issue a court order prohibiting the withdrawal, transfer, payment, delivery, and assignment of property during the trial. However, since the application was not made in time, the court order will not be issued.
Consequences Under the Money Laundering Act
According to Article 14 of the Money Laundering Act, anyone involved in money laundering activities can be sentenced to imprisonment for up to seven years and a fine of up to NT$5 million. The same article also states that an attempt to commit such an offense is punishable.
Prohibition on Acceptance, Possession, or Use of Property
Article 15 of the act prohibits individuals from accepting, possessing, or using property without a reasonable account of its origin if their income is obviously disproportionate to the size of the assets. This includes:
- Opening accounts at financial institutions in other people’s names or under false names
- Obtaining accounts through improper means
- Avoiding anti-money laundering procedures
Impact of Failed Court Order Application
The court order, which was not issued due to the prosecutor’s failure to apply within the deadline, would have prohibited certain actions related to the property involved in the money laundering activity. Without this order, the action has been halted indefinitely.
New Initiatives from the Ministry of Justice
In other news, the Ministry of Justice has established a case reporting mechanism in conjunction with social welfare authorities to provide assistance to individuals or families known to be in need of social assistance if they are found to be involved in money laundering activities.
The ministry has also determined:
- Identification criteria for accounts and account numbers
- Duration, scope, procedures, methods, and operating procedures for suspension, restriction of functions, or closure of such accounts
These new initiatives aim to strengthen the government’s efforts against money laundering and protect individuals and families from its harmful effects.