Taiwan Depository & Clearing Corporation

The Executive Secretary of the Asia-Pacific Group on Money Laundering (APG), Dr. Gordon Hook, visited TDCC on March 15, 2023, accompanied by officials from the Financial Supervisory Commission, the Anti-Money Laundering Office of the Executive Yuan, and the Anti-Money Laundering Division of the Ministry of Justice. Dr. Hook commended TDCC for its contribution to assisting the country in implementing anti-money laundering policies and enhancing corporate transparency. During the meeting, Dr. Hook also shared the key amendments and future measures related to the 24th and 25th recommendations on ultimate beneficial ownership in the Financial Action Task Force's (FATF) suggested guidelines on anti-money laundering financial action.

As one of the founding members of APG and the first country in Asia to establish anti-money laundering laws, Taiwan has made significant efforts in combating money laundering, and the meeting discussed ways to further enhance the country's anti-money laundering measures and promote information disclosure. Dr. Gordon Hook highly praised the efforts and effectiveness of Taiwan's government and private sector in preventing money laundering. Chairman Han-Chiang Chu also emphasized that as the back-office institution of Taiwan's capital market, TDCC has an obligation to maintain financial stability and promote transparent financial flows. TDCC will proactively comply with the country's anti-money laundering policies and assist in achieving the goal of "transparent financial flows and global recognition" in response to market developments.

APG Executive Secretary Dr. Gordon Hook and TDCC Chairman Mr. Han-Chiang Chu

TDCC is responsible for maintaining the Anti-Money Laundering/Counter-Terrorist Financing (AML/CFT) system under the guidance of the Financial Supervisory Commission. As of the end of February 2023, the AML/CFT system had received over 6,000 applications from 32 industries, which has effectively reduced the cost of building individual query systems and helped implement the country's anti-money laundering policies.

Additionally, TDCC has also developed a Company Representative and Major Shareholders' Information Reporting Platform - Company Transparency Platform (CTP Platform) designated by the Ministry of Economic Affairs, which allows companies to report information about their directors, supervisors, managers, shareholders with over 10% of the shares. The platform also provides 29 industry categories that must identify their substantial beneficial owners. In addition to the banking, insurance, and securities industries, this platform also includes electronic payment institutions, leasing companies, accountants, Land administration agents, and virtual currency platforms, among others, for inquiries. This improves the transparency of information for companies in Taiwan. The platform has helped Taiwan achieve the best level of "general tracking list" in the third round of the 2019 Asia/Pacific Group on Money Laundering (APG) evaluation. As of the end of February 2023, there are 3,600 units using the platform, with over 520,000 query records accumulated.

TDCC upholds its vision of innovation, resilience, sustainability, and financial inclusion, and continues to optimize its AML/CFT system and CTP platform. TDCC has provided API system integration and paperless application functions to help industry participants improve operational efficiency and effectively implement corporate governance goals as part the commitment to the promotion of ESG sustainable development.