TAIWAN SCRAMBLES TO GET AML HOUSE IN ORDER AHEAD OF APG REVIEW THIS YEAR
March 1st, 2018
FACED with its anti-money laundering and combating the financing of terrorism (AML/CFT) backlisting and a big USA fine of a major Taiwan bank, this island country has introduced AML/CFT reforms. Whether it has done enough will be assessed later this year when the Asia/Pacific Group on Money Laundering (APG), of which the island is a member – as Chinese Taipei, a nod to China’s insistence that Taiwan not be treated as an independent country - undertakes a third round of APG mutual evaluations.
This will be important, because the territory’s struggle to ...
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