TAIPEI (Taiwan News) — Taiwan’s Financial Supervisory Commission teamed up with the Toronto Centre to launch training programs to combat financial crimes, CNA reported on Monday.
The Toronto Centre, a non-profit organization founded by the Canadian government, the World Bank, and the Schulich School of Business provides training and support to financial supervisors and regulators worldwide. The center collaborates with leading international organizations, including Canada’s Office of the Superintendent of Financial Institutions, the Monetary Authority of Singapore, the Basel Committee on Banking Supervision, and the International Association of Insurance Supervisors.
The commission partnered with Toronto Centre in December to strengthen ties with international financial regulatory organizations. The program included case studies on cyber fraud, white-collar crime, anti-money laundering, and counter-terrorism financing.
The program included participants from several Asian countries, such as the Philippines, Malaysia, Thailand, India, and Vietnam. The program also included 35 participants from Taiwan's Central Bank, Central Deposit Insurance Corporation, and financial institutions in securities, insurance, and banking.
The commission emphasized the importance of combating financial crimes. It said the program is expected to strengthen the supervisory authorities' capacity to combat money laundering and fraud.
The Taiwan High Prosecutors Office said on Monday that from Nov. 11 to Dec. 10, authorities uncovered 5,241 investment fraud cases, arrested 931 individuals, and seized around NT$450 million (US$13.95 million) in illegal gains.