Taiwan achieves best outcome in review by anti-money laundering watchdog

  • Date: 2019-06-28
  • Source: Department of Information Services, Executive Yuan

Taiwan has achieved the best possible outcome in a review by the Asia/Pacific Group on Money Laundering (APG) of the nation’s compliance with international anti-money laundering and counter-financing of terrorism standards, the Executive Yuan’s Anti-Money Laundering Office said Friday.

In the APG’s official report published June 28, Taiwan was placed on the “regular follow-up” tier, an improvement from the previous “enhanced follow-up” tier, after the third round of a peer review, the office said.

The report will now be forwarded to the Financial Action Task Force and its global network of over 200 jurisdictions, the International Monetary Fund, the World Bank, and other international organizations for feedback and recommendations. The APG will also present the report at its annual meeting in Canberra on August 22 for inquiry and approval by members of the group.

In the meantime, government agencies, private groups and individuals in Taiwan should continue working with the world community to demonstrate the nation’s dedication against money laundering, and win support from other APG members to pass this round of review, the office added.