January 14, 2016
Taiwan’s Cabinet on Thursday approved a draft Act against the Funding of Terrorism, which will be submitted to the new Legislature when it opens in February.
In light of the threat posed by terrorism to human rights, many countries around the world are penalizing the financing of terrorism, as a means of preventing the spread of terrorism, according to the Ministry of Justice (MOJ).
The draft bill stipulates that a committee will be set up by the MOJ to decide who should be listed for sanctions. The list will include any individuals, legal figures or organizations that have been targeted by the U.N. Security Council, according to the draft bill, which allows for the freezing of capital and other assets owned by those listed.
According to the draft bill, the penalty for financing terrorist crimes, directly or indirectly, also includes a prison sentence of up to seven years and a maximum fine of NT$10 million.