Money Laundering Control Act Article 13

Financial institutions and designated nonfinancial enterprises or persons shall report to the Investigation Bureau of the Ministry of Justice all suspicious transactions, including attempted transactions, which may involve any of the offenses described in Articles 19 and 20.Financial institutions and designated nonfinancial enterprises or persons, including responsible persons, directors, managers and employees of such institutions or businesses declaration suspicious transactions as prescribed in the preceding paragraph shall be exempted from business confidentiality obligations.Regulations governing the scope, methods and procedures of declaration prescribed in paragraph 1 as well as other matters to be obeyed shall be prescribed jointly by the central competent authority in charge of the relevant industry, the Ministry of Justice and the relevant competent authorities; consultation with the relevant industries associations shall be held prior to the enactment of the rules.Where the matters under the preceding paragraph, paragraph 3 of Article 7, paragraph 4 of Article 8, paragraph 3 of Article 10, and paragraph 3 of the preceding Article involve the Judicial Yuan, the methods governing those matters shall be prescribed jointly by the Judicial Yuan and the Executive Yuan.For violations of the provisions in paragraph 1 and rules prescribed in paragraph 3 relating to the scope, methods and procedures of declaration, the central competent authorities in charge of the relevant industry associations shall impose a fine of not less than NT$500,000 but not more than NT$10 million on financial institutions, and a fine of not less than NT$50,000 but not more than NT$5 million on designated nonfinancial enterprises or persons. The fine may be imposed each time the offense occurs.