Cabinet passes draft amendments to Counter-Terrorism Financing Act

  • Date: 2018-09-13
  • Source: Department of Information Services, Executive Yuan

The Cabinet on Thursday passed draft amendments to the Counter-Terrorism Financing Act to increase the effectiveness of sanction measures and shore up Taiwan’s counter-terrorism financing system.

Premier Lai Ching-te said the amendments also come as part of Taiwan’s preparations for the third round of mutual evaluations by the Asia/Pacific Group on Money Laundering.

According to the Ministry of Justice, the amendments, if passed by the Legislature, would enable authorities to place prompt and effective restrictions on the transfer of funds and other assets by targets of sanctions. The revisions also address cross-border exchanges of information and intelligence, as well as recent sanction efforts by Taiwan to prevent the proliferation of weapons.