Editorial: Fighting money laundering is good diplomacy for Taiwan

Taiwan News
Date: 2017/06/22
By: Taiwan News, Staff Writer

The government announced that from June 28, laws against money laundering will expand to include

Taiwan toughens up measures against money laundering. (By Central News Agency)

measures covering relatives of politicians or even acquaintances and extramarital lovers.

The new rule implied that inspection and supervision would be intensified for people related to politicians under investigation for corruption and money laundering. The measures would no longer be limited to the spouse and children of the politician, who might have supplied domestic and overseas bank accounts to hide his financial shenanigans.

Under the new regulations, the investigators can also target people who have relationships with or who live in with the suspect politicians, or people who have a financial relationship with them.

At a Cabinet meeting Thursday, Premier Lin Chuan (林全) said the changes were needed to provide for a better enforcement of measures against money laundering and to “rebuild the order of financial flows.” Reform would not only improve the fight against corruption on the domestic front, but would also help Taiwan to pull itself up to international standards.    [FULL  STORY]

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