Taipei, July 26 (CNA) Taiwan was removed from the Asia Pacific Group on Money Laundering (APG) watchlist last week following its efforts in recent years to beef up money laundering prevention, the Ministry of Justice said Wednesday.
In an interview with Reuters on Wednesday, Deputy Justice Minister Tsai Pi-chung said Taiwan was the only jurisdiction removed from the 10-member watchlist, which also included Afghanistan, Brunei, Laos, the Maldives, Nepal, Pakistan, Papua New Guinea, the Philippines and Vietnam.
Taiwan was removed from the watchlist on July 20 during an APG meeting in Sri Lanka, after gaining support from other APG members, the ministry said in a statement that day.
The APG, an international organization founded in Thailand in 1997, uses a mutual evaluation or peer review program to assess how well members comply with international anti-money laundering and combating the financing of terrorism (AML/CFT) standards.
Taiwan was placed on a "regular follow-up" list in 2007 and on an "enhanced follow-up" list by the APG in 2011, before being placed on the "transitional follow-up list" in 2014.
Taiwan was removed from the "transitional follow-up list" on July 20.
Tsai Pei-ling, a prosecutor with the ministry, said her ministry has taken steps to improve its anti-money laundering efforts in recent years, including pushing for a new criminal forfeiture law in 2015, establishing a terrorism financing prevention law in 2016 and amending a money laundering control law the same year.
