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Money Laundering Control Act (Taiwan, ROC)

Taiwan's Money Laundering Control Act, administered by the Ministry of Justice, defines the money laundering offence in Article 2, requires risk-based…

What Money Laundering Control Act (Taiwan, ROC) requires

Taiwan's Money Laundering Control Act, administered by the Ministry of Justice, defines the money laundering offence in Article 2, requires risk-based customer due diligence in Article 8, mandates record retention of at least five years in Article 10, requires large currency transaction reporting (Article 12) and suspicious transaction reporting (Article 13) to the Investigation Bureau, and sets penalties in Article 19. Designated nonfinancial businesses and professions are covered alongside financial institutions.

Pillar: Financial Crime, AML & Sanctions · Authority: Ministry of Justice (Taiwan, ROC); Investigation Bureau (financial intelligence function) · Version: 1.0.0 · Last updated:

Primary source: https://law.moj.gov.tw/ENG/LawClass/LawAll.aspx?pcode=G0380131

SHA-256 integrity: c49077a59f605869cb29700d882ce2a13fb6a71d27fb2c47fcd4961cc18a7ad2

Primary Citations — 7 traced to source

  • Money Laundering Control Act (Taiwan, ROC), Article 2 - Definition of money laundering (concealing or disguising proceeds of specified unlawful activity; accepting, obtaining, possessing or using such proceeds)
  • Money Laundering Control Act (Taiwan, ROC), Article 8 - Risk-based customer due diligence; verification of customer and beneficial owner identity; enhanced due diligence for politically exposed persons

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