Taiwan
Overview
Chinese Taipei’s AML/CFT framework is anchored in the Money Laundering Control Act, first enacted in 1996 and subsequently amended, together with sectoral regulations and the Counter-Terrorism Financing framework. The Deep profile preserves the existing primary Ministry of Justice law source and adds current FIU, APG and virtual-asset evidence.
CDD and beneficial-owner identification requirements are embedded in the AML framework and sectoral rules. Legal-person transparency is represented through verified statutory/supervisory evidence without claiming a universal public BO register beyond the evidence.
The Money Laundering Prevention Center began the FIU function in 1997 and was later reorganised/renamed as the AMLD. It receives and analyses suspicious transaction information and participates in international FIU cooperation.
Compliance Calendar3
Requirement
Large cash transaction report
Authority / Report toInvestigation Bureau, Ministry of Justice
Deadline / triggerWithin 5 business days after completion of the transaction.
Requirement
- Subject scope
- Financial institutions subject to the FSC cash-transaction reporting regulation.
- Trigger
- Cash transaction above the amount defined by the applicable regulation.
- Filing channel
- Electronic media; hard-copy only with approval where electronic filing is unavailable for good cause.
Impact
- Consequences of non-compliance
- Non-compliance may result in administrative sanctions under the Money Laundering Control Act and financial-sector rules.
- Enforcement authority
- Financial Supervisory Commission / Investigation Bureau
- Operational impact
- Cash reporting systems should preserve completion date and use the current regulatory threshold configuration.
Requirement
Suspicious Transaction Report (STR)
Authority / Report toInvestigation Bureau, Ministry of Justice
Deadline / triggerResponsible head-office section prepares the STR within 10 business days upon discovery and, after required approval, promptly files it. Obvious, significant and urgent cases should be reported promptly by fax or other feasible means.
Requirement
- Subject scope
- Financial institutions within the FSC suspicious-transaction reporting regulation.
- Trigger
- Discovery of a transaction suspected of money laundering; attempted transactions are also reportable where the regulatory criteria are met.
- Filing channel
- Prescribed STR process; urgent cases may use fax/other feasible means under Article 8.
Impact
- Consequences of non-compliance
- Current Money Laundering Control Act provides administrative fines for reporting/control violations; exact amount depends on entity type and breached provision.
- Enforcement authority
- Financial Supervisory Commission / Investigation Bureau
- Operational impact
- Internal review/approval should be completed within the ten-business-day rule and urgent cases must bypass normal queues for prompt reporting.
Requirement
Financial institution AML/CFT controls and records
Authority / Report toFinancial Supervisory Commission / Investigation Bureau
Deadline / triggerOngoing; transaction reporting and customer-control duties operate continuously.
Requirement
- Subject scope
- Financial institutions under the Money Laundering Control Act and FSC AML framework.
- Trigger
- Continuous regulated activity.
- Filing channel
- Internal controls/records plus prescribed external reporting.
Impact
- Consequences of non-compliance
- Violations can lead to administrative fines and sector supervisory action under current law.
- Enforcement authority
- FSC / competent authorities
- Operational impact
- Maintain documented CDD, monitoring, records and reporting procedures, including annual review where specifically required by the reporting regulation.
Authorities & FIU1
FATF Assessment
Measures how fully the jurisdiction has implemented FATF’s technical requirements. It does not measure practical effectiveness.
Measures whether the AML/CFT system achieves its intended results in practice. Follow-up reports do not normally replace these ratings.
Explore 40 FATF RecommendationsSee every Technical Compliance rating and what it means.+
Explore 11 Immediate OutcomesSee how FATF rates whether the AML/CFT system works in practice.+
Regulatory Timeline34
FATF revised Recommendation 16 to standardise payment information and strengthen fraud/error controls in cross-border payments.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗FATF amended Recommendation 1 and related interpretive material to strengthen proportionality and simplified measures under the risk-based approach.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗FSC regulations issued on 26 November 2024 took effect on 30 November 2024, requiring covered virtual asset service providers to complete AML registration before operating.
FATF revised Recommendations 4, 30, 31 and 38 and related interpretive material to make asset recovery a stronger operational priority, expand tools to trace and confiscate criminal property and improve domestic and international cooperation.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗At its February 2023 Plenary FATF revised Recommendation 25 and its Interpretive Note to strengthen transparency and beneficial-ownership requirements for trusts and similar legal arrangements, complementing the 2022 strengthening of Recommendation 24 for legal persons.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗FATF strengthened Recommendation 24 on beneficial ownership transparency for legal persons.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗FATF amended Recommendations 1 and 2 and their Interpretive Notes so countries and covered private-sector entities must identify, assess and mitigate risks of breaches, non-implementation or evasion of proliferation-related targeted financial sanctions.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The Basel Committee revised its ML/TF risk-management guidelines to add principles for information exchange and cooperation between prudential and AML/CFT supervisors in authorisation, ongoing supervision and enforcement.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF adopted detailed implementation requirements for virtual assets and VASPs in June 2019, including the application of wire-transfer information requirements commonly described as the Travel Rule. This operationalised the virtual-asset perimeter introduced through the 2018 Recommendation 15 revision.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗In October 2018 FATF revised Recommendation 15 and added the definitions of virtual asset and virtual asset service provider, formally bringing virtual-asset activity into the global AML/CFT standards architecture. Detailed implementation requirements followed in 2019.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The Basel Committee issued Sound management of risks related to money laundering and financing of terrorism, superseding its 2001 CDD and 2004 consolidated KYC papers and integrating ML/TF risk management with prudential supervisory expectations.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF adopted a consolidated revised set of 40 Recommendations integrating AML, CFT and proliferation-financing safeguards.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The Ministry of Justice Investigation Bureau’s FIU function was reorganised under the Anti-Money Laundering Division following the 2007 organisational reform.
Resolution 1737 imposed binding measures concerning Iran’s proliferation-sensitive nuclear activities, including an asset freeze on designated individuals and entities. Together with the DPRK regime, it forms a foundational UN counter-proliferation targeted-financial-sanctions architecture.
This profile is not in the mapped current UN Member State set. Applicability of the Security Council measure must be established from the resolution and the profile’s international/legal status.
UN Charter · Article 25 ↗Following the DPRK nuclear test, Resolution 1718 imposed binding sanctions including an asset freeze on designated persons and entities connected to the nuclear programme. It became a central UN targeted-financial-sanctions pillar for counter-proliferation financing.
This profile is not in the mapped current UN Member State set. Applicability of the Security Council measure must be established from the resolution and the profile’s international/legal status.
UN Charter · Article 25 ↗FATF added a ninth Special Recommendation addressing cash couriers and cross-border movement of currency.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗Resolution 1540 requires all States to adopt and enforce laws and domestic controls to prevent non-State actors from acquiring or using weapons of mass destruction and related materials. It forms a binding global legal pillar of the proliferation-financing control environment later reflected in FATF CPF standards.
This profile is not in the mapped current UN Member State set. Applicability of the Security Council measure must be established from the resolution and the profile’s international/legal status.
UN Charter · Article 25 ↗The UN General Assembly adopted the United Nations Convention against Corruption on 31 October 2003. UNCAC addresses prevention of money laundering, laundering of corruption proceeds, confiscation and a dedicated asset-recovery framework; the Convention entered into force globally on 14 December 2005.
This profile is not treated as an independent UN Treaty Collection party. Any treaty relationship requires profile-specific legal evidence.
UN Treaty Collection ↗FATF comprehensively revised its AML/CFT Recommendations, strengthening preventive measures and extending coverage.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The Basel Committee issued Customer due diligence for banks, setting minimum supervisory expectations for customer acceptance, identification, ongoing monitoring and risk management. It became an influential global banking KYC/CDD benchmark and was later reflected in FATF standards.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF expanded its standards to terrorist financing through eight Special Recommendations.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗Resolution 1373 requires all States to prevent and suppress terrorist financing, criminalise the provision or collection of funds for terrorist acts, freeze terrorist assets without delay and prohibit making funds or financial services available to terrorists and related entities.
This profile is not in the mapped current UN Member State set. Applicability of the Security Council measure must be established from the resolution and the profile’s international/legal status.
UN Charter · Article 25 ↗The Palermo Convention was adopted on 15 November 2000 and broadened the international money-laundering framework beyond drug proceeds through criminalisation and preventive measures tied to transnational organised crime. It entered into force globally on 29 September 2003.
This profile is not treated as an independent UN Treaty Collection party. Any treaty relationship requires profile-specific legal evidence.
UN Treaty Collection ↗The UN General Assembly adopted the International Convention for the Suppression of the Financing of Terrorism on 9 December 1999, creating the treaty framework for criminalising terrorist financing and international cooperation. It entered into force globally on 10 April 2002.
This profile is not treated as an independent UN Treaty Collection party. Any treaty relationship requires profile-specific legal evidence.
UN Treaty Collection ↗Resolution 1267 imposed an assets freeze and other targeted sanctions in the Taliban context and created the Security Council committee that became the foundation of the UN 1267 sanctions architecture. It is a key global precursor to modern terrorist-financing targeted financial sanctions.
This profile is not in the mapped current UN Member State set. Applicability of the Security Council measure must be established from the resolution and the profile’s international/legal status.
UN Charter · Article 25 ↗The Egmont Group's official Member FIU Information register records Taiwan's FIU admission date as 1998-06-20.
Chinese Taipei established its financial intelligence unit in 1997 and was a founding member of the Asia/Pacific Group on Money Laundering in the same year.
Taiwan promulgated the Money Laundering Control Act in 1996, establishing the statutory foundation for anti-money-laundering controls.
FATF revised the Forty Recommendations to reflect evolving money-laundering methods and countermeasures.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗Representatives of 13 financial intelligence units met in Brussels on 9 June 1995 and founded what became the Egmont Group. The milestone created the operational global network for FIU-to-FIU cooperation and exchange of financial intelligence.
Current profile relationship to the Egmont network. This does not imply membership in 1995; admission history is a separate LOCAL/STATUS fact.
Egmont Group · Member FIUs ↗FATF issued its original Forty Recommendations, establishing the first global AML standard framework.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The G7 established FATF in 1989 to examine and develop measures to combat money laundering. FATF became the central global standard-setting body whose recommendations are implemented through national and regional AML/CFT frameworks.
Current relationship. This is regional assessment network participation, not direct FATF membership. The GLOBAL standard remains separate from evidence of domestic implementation.
FATF Global Network ↗The Vienna Convention was adopted on 20 December 1988 and created the first treaty-level international obligation to criminalise laundering conduct linked to drug-trafficking proceeds, alongside confiscation and international-cooperation measures. It entered into force globally on 11 November 1990.
This profile is not treated as an independent UN Treaty Collection party. Any treaty relationship requires profile-specific legal evidence.
UN Treaty Collection ↗The Basel Committee published a Statement of Principles for banks aimed at reducing the risk that banking institutions would be used by criminals or as channels for money laundering. This helped establish the preventive and supervisory side of AML alongside the emerging criminal-law framework.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗