Taiwan Gets Tougher on Fraud With Increased Penalties, New Reporting Rules
Taiwan's legislature has passed sweeping reforms that will increase penalties for high-value fraud. The bill will also give financial institutions more powers and duties to report suspicious activity.
Category
🗞
NewsTranscript
00:00Taiwan's legislature has passed sweeping anti-fraud regulations.
00:05The law increases penalties for high-value fraud and gives financial institutions and
00:10telecoms companies new powers and responsibilities for reporting suspicious activity.
00:16People arrested in fraud cases involving sums over US$3 million will face up to 12 years
00:22in prison and fines of up to US$9.2 million.