Our solutions for Taiwan
PEP Check
Access our comprehensive data sets, which have been compiled from over 20,000 government sources, allowing you to identify politically exposed persons and their close associates
Sanctions Check
Screen against thousands of government regulatory and law enforcement watchlists, and over 100 International and National Sanctions lists that are updated daily.
Adverse Media Check
AI-driven analysis of negative news associated with money laundering and financial crime enhances due diligence efforts in line with the latest AML compliance requirements.
Know Your Business Check
Identify the relationships between individuals and business entities with our Know Your Business (KYB) solution.
AML Consulting Service
Consult with our experienced, accredited advisers to examine your business's inherent risk and AML program and receive suggestions on ways in which you can improve your current controls.
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Request a demoTaiwan's AML/CTF supervisors
In Taiwan, the government heavily regulates the banking industry. The Taiwanese government created the Money Laundering Control Act (MLCA), which went into force on April 23, 1997. It established the Money Laundering Prevention Center (MLPC), which was tasked with receiving Suspicious Transaction Reports (STRs) and acting as Taiwan's FIU.
The Central Bank of Taiwan supervises Taiwan's five free trade zones and is expanding the offshore banking industry. There isn't a significant black market for illicit items in Taiwan. Through unregulated, likely non-bank channels, a sizeable portion of informal financial activity takes place.
How do you comply with the AML/CTF regulations in Taiwan?
Due to its sophisticated financial sector, advantageous location within the Asia-Pacific international shipping lanes, proficiency in high-technology production, and function as an international trade hub, Taiwan is susceptible to transnational crimes such as money laundering, drug trafficking, and trade fraud.
In Taiwan, financial institutions are expected to create and implement a thorough compliance framework that covers all aspect of their business and focuses on the following:
- Establishment of internal rules to ensure compliance with all applicable laws and regulations
- Putting in place procedures and systems to keep track of customer transactions and identify any questionable conduct
- The investigation of questionable conduct and subsequent reporting of it to the relevant regulatory and/or criminal enforcement organisations
- Ongoing training of compliance and anti-financial crime departments and units to guarantee that human performance is used to achieve AML/CTF implementation standards at the global and local levels
How can NameScan help?
We offer our clients a secure and user-friendly solution for scanning politically exposed or high-risk individuals. We also cross-reference names against official lists, including sanctions, regulatory, law enforcement, and other relevant databases. This comprehensive approach aims to minimise your risk and establish digital trust.
Make the most of our advanced scan filters and rigorous due diligence process to significantly reduce false matches and save valuable time. Our in-depth reporting features provide quick and easy access to client information. You can download customised reports for further analysis or to demonstrate compliance with your AML program during audits.