TAIPEI (TVBS News) — Taiwan's payment industry pledged Monday (Oct. 27) to combat gambling-related money laundering through strict self-regulation measures during an inter-ministerial press conference. The Taiwan Payment Facilitator Association (中華民國第三方支付服務業商業同業公會), representing third-party payment companies, participated for the first time in the government initiative.
Liu Shih-wei (劉士維), chairman of the association, detailed four main self-regulatory measures including rigorous customer due diligence and prior reporting of new business activities. Liu emphasized that establishing stringent self-regulation represents the association's primary mission. The measures aim to prevent crime and restore public confidence in Taiwan's third-party payment industry.
Lin Yi-jing (林宜敬), the Minister of Digital Affairs, Taiwan's technology policy chief, highlighted vulnerabilities within the third-party payment sector. He noted that fraud syndicates exploit these services for money laundering, with non-compliant operators present. The Ministry of Digital Affairs (數位發展部) established a service capability registration system in July 2023, attracting 53 registered operators.
The ministry plans comprehensive on-site inspections of all 53 registered operators and has revoked registration of three problematic companies. Eight operators faced fines totaling NT$2.73 million (around US$88,924), reflecting the ministry's commitment to maintaining industry standards. The enforcement actions demonstrate Taiwan's government resolve to regulate digital payment services.