Please use this identifier to cite or link to this item:
Discussing the Compliance and Internal Control of Banking Industry from the Prevention of Money Laundering
Anti-Money Laundering,Counter-Terrorism Financing,Performance Evaluation,Technical Compliance Evaluation,Continuous Monitoring,
|Publication Year :||2020|
In October 2019, the third mutual evaluation report of Chinese Taipei's anti-money laundering and anti-terrorism measures was released. This evaluation report analyzes the degree of compliance with the 40 FATF recommendations and the effectiveness of Taiwan’s AML/CFT system. This evaluation is divided into technical evaluation and effectiveness evaluation. Among the 11 effectiveness evaluations, only four items are moderately effective; in the 40 technical compliance evaluations, only four are partially followed. This cannot be said as the expected results of people in Taiwan. In the two years before this mutual evaluation, Taiwan boasted that the domestic laws and systems related to money laundering prevention and combating capital terrorism have been fully adjusted to the international level, and it has also set up a money laundering prevention office under the Executive Yuan to coordinate national resources. Efforts were made to carry out various matters related to money laundering prevention and control, and the first National Risk Self-Assessment (NRA) was completed, and it was examined that among the various industries in Taiwan, the banking industry has the highest risk of money laundering. The banking industry has also lived up to expectations. The money laundering prevention mechanism has been changed from the simple KYC account opening procedure in the past, the declaration of large currencies over NT$500,000, and the occasional declaration of suspected money laundering transactions; now, the establishment of the complicated KYC/CDD procedure for account opening , Continuous review of customer identity, continuous monitoring of accounts or transactions, declarations of suspected money laundering or terrorist transactions. This article attempts to focus on the prevention of money laundering, to explore the current implementation of the banking industry under legal compliance and internal control and whether there is room for improvement.
|Appears in Collections:||事業經營法務碩士在職學位學程|
Files in This Item:
|1.82 MB||Adobe PDF|
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.