Financial Crime World

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Taiwan Tightens Screws on Beneficial Ownership Rules

In a bid to combat financial crimes and protect businesses from illicit activities, Taiwan has strengthened its beneficial ownership rules. Under the Money Laundering and Terrorist Financing (Prevention) Act, companies are now required to verify the ultimate beneficial owners of their business partners before entering into any partnership or investment.

UBO Screening Mandatory for Industries

Taiwan’s move follows global best practices in combating money laundering and terrorist financing. Key industries that must comply with UBO screening include:

  • Banks
  • Solicitors
  • Payment services providers
  • E-commerce companies
  • Accountants
  • Others involved in high-risk businesses

AsiaVerify Leads the Way

AsiaVerify, a leading provider of due diligence solutions, has been at the forefront of Taiwan’s beneficial ownership efforts. The company’s advanced UBO search technology enables users to:

  • Instantly identify all directors and shareholders with a minimum holding of 10%
  • Access real-time and accurate company filings
  • Unravel complex corporate structures

Combatting Fraud and Protecting Business Reputation

In an interview with AsiaVerify, Esther Dowling, COO of Fulcrum Diligence, praised the company’s UBO search tool as “one of the best tools I have ever used for corporate research.” The tool has been instrumental in helping businesses avoid fraudulent activities and protect their reputation.

Kompany Partners with AsiaVerify

Kompany, a global business verification platform, has partnered with AsiaVerify to offer real-time official company data on its platform. According to Kompany’s CEO and Co-founder, Russell E. Perry, the partnership is “important not only for our APAC business but for Kompany globally.”

UBO Verification in Real-Time

AsiaVerify’s advanced UBO search technology enables users to access UBO reports in real-time and in their language. The company’s data is sourced from legally authoritative and compliant sources, providing the most comprehensive, accurate, and up-to-date information available.

Start Your UBO Taiwan Search Now

Businesses looking to comply with Taiwan’s beneficial ownership rules can start their UBO search now by visiting AsiaVerify’s website. With AsiaVerify’s expert guidance and advanced technology, companies can confidently navigate complex corporate structures and identify potential risks.