Money laundering (ML) involves a wide range of predicate offenses, including drug trafficking, human smuggling, arms smuggling, gambling, fraud, tax evasion, etc. Additionally, money laundering activities had been associated with drug trafficking or organized crime in the past, but the terrorist attacks on September 11th, 2001 have highlighted the link between money laundering activities and terrorist financing (TF). Due to the over-banking phenomenon in Taiwan, banks focus more on business performance than compliance, resulting in the violation incident of Mega International Commercial Bank (Mega Bank) New York Branch with a huge penalty of US$180 million fined by the New York State Department of Financial Services (NYDFS) in August, 2016. The violation incident of Mega Bank New York Branch has reinforced the importance of compliance with international Anti-money laundering/Combating the financing of terrorism (AML/CFT) standards for risk mitigation. Taiwan will undergo the third round of the Asia/Pacific Group on Money Laundering (APG) mutual evaluations in 2018, it calls for not only government legislation but also raising public awareness of ML/TF crimes and involves the public cooperation with the government in the fight against ML/TF.

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吳瓊佩 (2014)，我國銀行法令遵循制度之研究，國立政治大學法學院法律科際整合研究所碩士學位論文。

邱莉婷 (2011)，我國金融服務業發展之回顧與展望，經濟研究第11期，pp. 171-197

張迺佳 (2016)，我國商業銀行洗錢防制與打擊資助恐怖主義法規範之問題與對策探討，國立政治大學法律學系碩士在職專班碩士學位論文。

Reference Websites:

Anti-Money Laundering Division, Investigation Bureau, Ministry of Justice, Available at:
https://www.mjib.gov.tw/EditPage/?PageID=3bf48af4-bfbe-41e3-9137-d908e16eb1cc

Asia/Pacific Group on Money Laundering (APG), Available at:
http://www.apgml.org/about-us/page.aspx?p=91ce25ec-db8a-424c-9018-8bd1f6869162
http://www.apgml.org/about-us/page.aspx?p=ac38f87e-2341-43e6-84b2-4dbd6346f6c3
http://www.apgml.org/fatf-and-fsrb/page.aspx?p=94065425-e6aa-479f-8701-5ca5d07ccfe8
http://www.apgml.org/members-and-observers/page.aspx?p=8c32704a-5829-4671-873c-7b5a23ced347
http://www.apgml.org/methods-and-trends/page.aspx?p=a4a11dca-75f2-4dae-9c25-6215103e56da

Chinatimes, Available at:
http://www.chinatimes.com/newspapers/20160824000360-260102

Commercial Times, Available at:
https://ctee.com.tw/News/ViewCateNews.aspx?newsid=155514&cateid=cjzc

Compliance Alert, Available at:
http://www.calert.info/details.php?id=944

Council on Foreign Relations (CFR), Available at:
https://www.cfr.org/backgrounder/what-are-economic-sanctions

Executive Yuan, Republic of China (Taiwan), Available at:
http://english.ey.gov.tw/News_Content.aspx?n=3FA02B129BCA256C&sms=925E4E62B451AB83&s=DEED8C612AC1786A
http://english.ey.gov.tw/News_Hot_Topic.aspx?n=0575F174E90C38F0&sms=2413CFE1BCE87E0E
http://english.ey.gov.tw/News_Hot_Topic.aspx?n=5D67267C4F593FE7&sms=7F46BDB40CA63F10

Financial Action Task Force (FATF), Available at:
http://www.fatf-gafi.org/about/
http://www.fatf-gafi.org/about/whatwedo/

Financial Supervisory Commission, Banking Bureau, Available at:
https://www.banking.gov.tw/en/home.jsp?id=18&parentpath=0,5
https://www.banking.gov.tw/ch/home.jsp?id=157&parentpath=0,4&mcustomize=bstatistics_view.jsp&serno=201105120009

Focus Taiwan, Available at:
http://focustaiwan.tw/news/aipl/201703160021.aspx

Forbes, Available at:
https://www.forbes.com/sites/niallmccarthy/2016/04/04/the-most-popular-tax-havens-in-the-panama-papers-infographic/#15e27ab34a93

International Consortium of Investigative Journalists (ICIJ), Available at:
https://panamapapers.icij.org/graphs/

International Financial Law Review (IFLR), Available at:
http://www.iflr.com/Article/3748204/New-anti-money-laundering-legislation-in-Taiwan-Implementation-of-the-newly-amended-Money-Laundering.html

International Monetary Fund (IMF), Available at:
http://www.imf.org/external/pubs/ft/fandd/2002/12/elqorchi.htm

KYC360, Available at:
https://kyc360.com/article/podcast-everyday-money-laundering/

Mega International Commercial Bank, Available at:
https://www.megabank.com.tw/en/about.asp
https://www.megabank.com.tw/en/about_oc.asp
https://www.megabank.com.tw/en/dload01.asp
https://www.megabank.com.tw/other/event_01.asp?sno=810
https://www.megabank.com.tw/en/Press_Release20160819.asp

Ministry of Foreign Affairs, Republic of China (Taiwan), Taipei Liaison Office in the RSA, Available at:
http://www.roc-taiwan.org/za_en/post/4821.html

Monetary Authority of Singapore (MAS), Available at:
http://www.mas.gov.sg/News-and-Publications/Media-Releases/2016/Singapore-Has-Strong-Framework-for-Combatting-Money-Laundering-and-Terrorism-Financing.aspx

Newsweek U.S. Edition, Available at:
http://www.newsweek.com/panama-papers-top-ten-tax-havens-where-money-hidden-444512

New York State Department of Financial Services (NYDFS), Available at:
http://www.dfs.ny.gov/about/eagen.htm

SWI swissinfo.ch., Available at:
https://www.swissinfo.ch/eng/secret-banking_switzerland-still-tops-financial-secrecy-index/41755204

Tax Justice Network (TJN), Available at:
http://www.financialsecrecyindex.com/introduction/fsi-2015-results

The Atlantic, Available at:
https://www.theatlantic.com/international/archive/2016/04/panama-papers-tax-havens-world/477042/

The Egmont Group of Financial Intelligence Units, Available at:
https://www.egmontgroup.org/en/content/about

The Wolfsberg Group, Available at:
http://www.wolfsberg-principles.com/index.html

TheNewsLens, Available at:
https://international.thenewslens.com/article/79235

United Nations Office on Drugs and Crime (UNODC), Available at:
https://www.unodc.org/unodc/en/about-unodc/index.html?ref=menutop
https://www.unodc.org/unodc/en/money-laundering/laundrycycle.html

World Economic Forum, Available at:
https://www.weforum.org/agenda/2016/04/5-charts-on-the-panama-papers-leaks