With the intent of strengthening the money laundering prevention procedure of OBU, the FSC amended the Rules Governing Offshore Banking Branches on May 22, 2017 unifying requirements for the customer ID documents, materials or information OBU should obtain and validate. All banks have now completed re-confirmation of the identity of all existing OBU customers.
According to the money laundering and terrorist financing risk assessment of the Executive Yuan’s Anti-Money Laundering Office, tax crime is regarded as one of the high-risk money laundering threats to Taiwan, therefore, banks should understand customer tax money laundering risk and include tax crime risk assessment in money laundering prevention related procedures; these include confirming customer identity  and continuing  examination,  monitoring of transactions, implementing education and training and ensuring that employees adhere to the code of ethical conduct, to effectively detect and prevent assets derived from serious tax crime entering the financial system.
At present, the Customer Due Diligence, money laundering prevention and anti-tax evasion measures that OBU should implement are aligned with those of onshore financial business and international standards. Banks should review and pay attention to the correctness of international financial business-related promotion and marketing documents to help maintain the stable development of international financial business.