Money laundering (ML) involves a wide range of predicate offenses, including drug trafficking, human smuggling, arms smuggling, gambling, fraud, tax evasion, etc. Additionally, money laundering activities had been associated with drug trafficking or organized crime in the past, but the terrorist attacks on September 11th, 2001 have highlighted the link between money laundering activities and terrorist financing (TF). Due to the over-banking phenomenon in Taiwan, banks focus more on business performance than compliance, resulting in the violation incident of Mega International Commercial Bank (Mega Bank) New York Branch with a huge penalty of US$180 million fined by the New York State Department of Financial Services (NYDFS) in August, 2016. The violation incident of Mega Bank New York Branch has reinforced the importance of compliance with international Anti-money laundering/Combating the financing of terrorism (AML/CFT) standards for risk mitigation. Taiwan will undergo the third round of the Asia/Pacific Group on Money Laundering (APG) mutual evaluations in 2018, it calls for not only government legislation but also raising public awareness of ML/TF crimes and involves the public cooperation with the government in the fight against ML/TF.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0105933011 |
| Creators | 孫曼蓉, Sun, Man-Jung |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 英文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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