Financial Crime World

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Taiwan’s AML/CFT Regulatory Regime: A Key Player in Global Financial Security

The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regulatory regime in Taiwan has been recognized as a key player in global financial security. The regime, established to combat money laundering and terrorist financing, has been praised for its effectiveness in preventing financial crimes.

Policy and Strategy

The AML/CFT policy and strategy in Taiwan are designed to prevent the misuse of the financial system for illegal activities. The Financial Supervisory Commission (FSC) is responsible for implementing the regime, which includes a range of measures such as:

  • Customer due diligence
  • Transaction monitoring
  • Reporting suspicious transactions

FAQ

The FSC has also established a FAQ section on its website to provide guidance to financial institutions on their AML/CFT obligations. The FAQs cover a range of topics, including:

  • Customer identification
  • Account opening
  • Transaction monitoring

AML/CFT Regulatory Regime of Taiwan

Taiwan’s AML/CFT regulatory regime is based on international standards set by the Financial Action Task Force (FATF) and the International Monetary Fund (IMF). The regime requires financial institutions to implement robust customer due diligence procedures, including:

  • Identification of customers
  • Verification of their identity

International Standards and Guidance

Taiwan’s AML/CFT regulatory regime is also aligned with international standards and guidance. The FSC works closely with international organizations such as the FATF and the IMF to ensure that Taiwan’s regime is consistent with global best practices.

Outreach

The FSC has established an outreach program to provide guidance and training to financial institutions on their AML/CFT obligations. The program includes:

  • Workshops
  • Seminars
  • Online training modules

Resources & Links

For more information on Taiwan’s AML/CFT regulatory regime, please visit the FSC website at www.fsc.gov.tw.

In addition to the FSC website, financial institutions can also access a range of resources and links, including:

  • International standards and guidance
  • Training materials
  • Industry best practices
  • Local Organizations: Taiwan Financial Association
  • International Organizations: Financial Action Task Force (FATF), International Monetary Fund (IMF)

Practice Sector

Taiwan’s AML/CFT regulatory regime is also recognized for its effectiveness in preventing financial crimes. The regime has been praised for its ability to identify and prevent money laundering and terrorist financing.

  • Basel I and II
  • Financial Derivatives
  • Financial Asset Securitization
  • Real Estate Securitization
  • Bills
  • Financial Institutions Consolidation
  • New Southbound Policy

Opening of Deposit Account

Financial institutions in Taiwan must also implement robust customer due diligence procedures when opening deposit accounts. This includes:

  • Identification of customers
  • Verification of their identity

Training Events

The FSC has established a range of training events to provide guidance and training to financial institutions on their AML/CFT obligations. These events include:

  • Workshops
  • Seminars
  • Online training modules

E-Paper

For more information on Taiwan’s AML/CFT regulatory regime, please visit the FSC website at www.fsc.gov.tw.

Policies & Publications

Taiwan’s AML/CFT regulatory regime is based on a range of policies and publications. These include:

  • Foreign Relations Documents
  • Regulations and Administrative Rules
  • Documents relating to administrative guidance
  • Statistics
  • Administration Plan
  • Research Report
  • Budgets, Monthly and Annual Financial Reports
  • Decision of Administrative Appeals
  • Documents related to public works and services

International Standards and Guidance

Taiwan’s AML/CFT regulatory regime is also aligned with international standards and guidance. The FSC works closely with international organizations such as the FATF and the IMF to ensure that Taiwan’s regime is consistent with global best practices.

Outreach

The FSC has established an outreach program to provide guidance and training to financial institutions on their AML/CFT obligations. The program includes:

  • Workshops
  • Seminars
  • Online training modules

Resources & Links

For more information on Taiwan’s AML/CFT regulatory regime, please visit the FSC website at www.fsc.gov.tw.

In addition to the FSC website, financial institutions can also access a range of resources and links, including:

  • International standards and guidance
  • Training materials
  • Industry best practices