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Disciplinary Procedures Against Asia Pacific International Securities Investment Consultant Co., Ltd in Violation of Money Laundering Control Act

1.Date of penalty: January 8, 2021
2.Subject of penalty: Asia Pacific International Securities Investment Consultant (hereinafter referred to as “Asia Pacific Investment Consultant”)
3.Legal reference: Paragraph 4, Article 9 of the Money Laundering Control Act and Article 13 of the Regulations Governing Anti-Money Laundering of Financial Institutions.
4.The facts: Asia Pacific Investment Consultant had eight cash transactions of more than NT$500,000 each from June 6, 2018 to June 30, 2020 but had not reported such to Ministry of Justice Investigation Bureau.  It has been determined that Asia Pacific Investment Consultant was in violation of Article 13 of the Regulations Governing Anti-Money Laundering of Financial Institutions.
5.Result of punitive action: A fine of NT$1,000,000 is levied in accordance with Paragraph 4 of Article 9 of the Money Laundering Control Act.
Visitor: 856   Update: 2021-01-19