APG praises Taiwan’s anti-money laundering efforts, with caveats

Focus Taiwan
Date: 2018/11/16
By: Elaine Hou, Tien Yu-pin and Frances Huang

Taipei, Nov. 16 (CNA) Taiwan’s anti-money laundering efforts have impressed an evaluation team from the Asia/Pacific Group on Money Laundering (APG), but there is more work to be done, the Executive Yuan said Friday.

In a statement, the Cabinet said the preliminary results of a mutual evaluation by the APG, a mechanism set up in February 1997 to prevent money laundering-related crimes in the Asia Pacific area, found Taiwan’s anti-money laundering system to be functioning well.

Through the system, Taiwan is able to provide instant mutual legal assistance to its peers in the region to prevent money-laundering, the government said, citing the APG’s initial findings.

A team organized by the APG held the third round of a peer review in Taiwan from Nov. 5 to Friday, when it released its preliminary results.    [FULL  STORY]

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