Financial Crimes and Punishments in Taiwan

Taiwan has established various laws to prevent and punish financial crimes, including money laundering. The following articles outline the key provisions of these regulations.

Prohibited Financial Crimes

Article 14: Improper Account Management

• Prohibition: Opening accounts in other people’s names, accessing others’ accounts improperly, and avoiding anti-money laundering procedures.
• Punishments:
  • Imprisonment
  • Detention
  • Fines

Article 15-1: Unlawful Collection of Account Details

• Prohibition: Collecting others’ account details without justifiable cause and committing certain actions with those details.
• Punishments:
  • Imprisonment
  • Detention
  • Fines

Article 15-2: Unauthorized Disclosure of Account Information

• Prohibition: Delivering or making available to another party account information that has been filed with a financial institution.
• Violations:
  • Reprimand by police authorities (first-time offense)
  • Imprisonment or fines for repeat offenses within five years

Liability of Legal Persons and Public Officials

Article 16: Liability of Representatives, Agents, Employees, etc.

• Punishment: Representatives, agents, employees, or other personnel of a legal person who commit financial crimes can be punished individually and their employer charged with a fine.

Article 17: Disclosure of Money Laundering Information by Public Officials

• Prohibition: Disclosing or delivering documents, pictures, information, or objects relating to reported transactions suspected of money laundering.
• Punishments: Not specified in this text.

Note: This article is likely an excerpt from the “Money Laundering Control Act” or similar legislation in Taiwan and may require additional context or research for a more comprehensive understanding.