Taipei Times
Date: Nov 23, 2017
By: Jonathan Chin / Staff writer, with CNA
Premier William Lai (賴清德) yesterday vowed that the nation would pass the Asia Pacific
Premier William Lai, second left, yesterday participates in a news conference held by the Cabinet’s Anti-money Laundering Office in Taipei, vowing to pass the third-round evaluation of the Asia Pacific Group on Money Laundering next year. Photo: George Tsorng, Taipei Times
Group on Money Laundering’s (APG) evaluations next year, hinting that banking reforms are likely.
Lai made the comments at a news conference to announce the Cabinet’s determination to repair the nation’s reputation on transparency of financial institutions.
Taiwan was the first Asian nation to pass legislation dedicated to countering money laundering and is a founding member of the group, he added.
The nation in 2007 landed on the group’s “regular follow-up” list after its first-ever evaluation of the region’s efforts to fight money laundering, Lai said.
In 2011, Taiwan was placed on the group’s “enhanced follow-up” list after foreign regulators levied penalties against the nation’s banks for poor implementation of money laundering measures and weak internal regulation, he added. [FULL STORY]
