Authorities seize billions in illicit funds crackdown
CLOSING THE TAP: In operations between August and last week, 445 cases involving illicit financial flows were uncovered, with cash, vehicles and jewelry being seized
By Wang Ting-chuan and Fion Khan / Staff reporter, with staff writer
Law enforcement agencies have seized about NT$1.32 billion (US$40.16 million) in suspected criminal proceeds in two nationwide crackdowns on illicit financial flows in a bid to prevent illegal foreign funds from influencing the Nov. 28 elections, the High Prosecutors’ Office said yesterday.
The operations targeted underground remittance networks, illegal financial activities, money laundering and gambling, with the first phase running from Aug. 17 to Sept. 4 and the second from Oct. 9 to Friday, the office said.
Across the two operations, authorities uncovered 445 cases involving illicit financial flows and secured court approval for the detention of 146 suspects, it said.
Investigators sort through confiscated cash in an undated photograph.
Photo courtesy of the Ministry of Justice Investigation Bureau
Authorities seized about NT$1.32 billion in cash and bank accounts, more than 1.86 million cryptocurrency tokens, 56 properties, 30 vehicles, more than 70kg of gold, more than 700kg of silver and about 100 luxury items, such as designer handbags, high-end watches and jewelry, it said.
In a separate statement, the Ministry of Justice Investigation Bureau said it had uncovered NT$85.84 billion in illicit financial flows and seized about NT$2.25 billion in suspected criminal proceeds in 103 cases across the two operations.
The bureau’s second operation mobilized 13 field offices nationwide and involved 44 cases and searches at 120 locations, it said.
Investigators questioned 198 people, with 18 ordered detained by judges and 62 released on bail, it said.
Meanwhile, the Criminal Investigation Bureau (CIB) said it uncovered 22 money laundering cases and nine underground remittance cases so far this year.
In sweeps targeting gambling networks, the CIB discovered 21 election-betting cases, 92 cases involving physical gambling venues, 93 underground lottery betting cases and 328 online gambling cases, involving 1,581 people, it said.
Police seized more than NT$39.31 million in cash, with the total amount associated with gambling cases exceeding NT$28.2 billion, it added.
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