TAIWAN FORGES AHEAD WITH AML/CFT DESPITE SCANT DIPLOMATIC RECOGNITION
October 7th, 2024
Taiwan’s sovereignty as the Republic of China may remain unrecognised by all but 12 countries (including the Vatican State) (1), but it is a full member of the Asia/Pacific Group on Money Laundering (APG) and has been making significant progress on AML/CFT.
The island state has been placed on the APG regular follow up list after its latest MER, released in 2019, which highlighted no non-compliance with FATF recommendations, and only four partial compliance ratings (2). These were regarding 22 on DNFBP customer due diligence, 25 on beneficial ownership ...
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