To prepare for next November's third-round mutual evaluation by the Asia/Pacific Group on Money Laundering (APG), the government has invited the intergovernmental organization Financial Action Task Force on Money Laundering, the APG itself, and international experts from Australia and elsewhere to come to Taiwan to conduct a simulated evaluation of public institutions and make pertinent recommendations.
Following a report by the Executive Yuan's Anti-Money Laundering Office (AMLO) on Taiwan's readiness for the APG evaluation and key actions to be taken in the future, Premier Lai Ching-te said that it is imperative that Taiwan pass. He instructed all ministries and agencies to move as quickly as possible to review and make adjustments based on the results of the simulated evaluation and follow-on recommendations in order to strengthen the foundations of the legal system. The premier also ordered the following actions:
1. Companies and foundations should carry out risk assessments and tighten management, while law enforcement organizations should undertake a full review of current conditions and develop concrete objectives and plans to trace the flow of funds, in order to improve Taiwan's overall capability to follow the movement of money.
2. All units should review the current deployment of resources and personnel to ensure compliance with national risk assessment policy. Lateral communications among separate units and organizations should also be enhanced. All Executive Yuan agencies must cooperate and work as one to secure success in the APG's 2018 third-round mutual evaluation.
3. The AMLO should regularly survey the state of related preparations prior to the formal evaluation, and when necessary convene anti-money laundering meetings to conduct reviews.