TAIPEI (Taiwan News) – In preparation for a field assessment by the Asia Pacific Group on Money Laundering, the Taiwan High Prosecutors Office instructed the National Police Agency to dissolve money laundering operations across Taiwan on Sept. 26.
According to the Liberty Times, a joint investigation between Taiwanese authorities will lead to prosecutions in relation to six syndicates which are breaking anti-money laundering laws.
Police mobilized hundreds of officers, interviewing dozens of suspects and associates across Taiwan, reported China Times.
Taiwan will have its third field assessment by the Asia Pacific Group on Money Laundering in November, where Taiwan will hope to maintain its “low risk” grade from the regional body.
In preparation for the assessment, the Anti-Money Laundering Office of the Executive Yuan in May announced that it would be targeting eight areas to investigate for potential money laundering.
Taiwan, a full member of the Asia/Pacific Group on Money Laundering was taken off the watchlist of jurisdictions with unsuitable anti-money laundering controls in July 2017, after a period of strong reform.