Taiwan intent on improving anti-money laundering score

Focus Taiwan
Date: 2019/02/24
By: Ku Chuan and William Yen

Taipei, Feb. 24 (CNA) Taiwan is hoping to earn an improved score when an evaluation team from the

CNA file photo

Asia/Pacific Group on Money Laundering (APG) returns for a four-day follow-up onsite review in March, according to a Ministry of Justice official.

Deputy Justice Minister Chen Ming-tang (陳明堂) said that when the team returns it will be an opportunity for Taiwan to improve its preliminary results from a mutual evaluation by the APG during a third round of a peer review conducted from Nov. 5 to 16, 2018.

The APG uses a “mutual evaluation,” or peer review, to assess the degree to which its members comply with international standards in combating money laundering and terrorist financing.

A bad score can hurt the reputation of a country’s financial sector and put it at a major disadvantage in engaging in international finance.    [FULL  STORY]

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