July 26, 2017
Taiwan has been dropped from a watchlist of Asia-Pacific jurisdictions deemed to have inadequate anti-money laundering controls, a senior official said on Wednesday, adding that the move reflects the island’s determination to tighten its laws. Removal from the Asia Pacific Group on Money Laundering (APG) watchlist is a victory for Taiwan, known as a supply chain hub for Apple Inc and other global companies, but which has also earned a reputation as a haven for money laundering. The others on the watch list are Afghanistan, Brunei, Laos, the Maldives, Nepal, Pakistan, Papua New Guinea, the Philippines, and Vietnam.