《TAIPEI TIMES》Authorities seize billions in illicit funds crackdown

Law enforcement agencies have seized about NT$1.32 billion (US$40.16 million) in suspected criminal proceeds in two nationwide crackdowns on illegal financial flows aimed at preventing illegal foreign funds from affecting the Nov. 28 election, the High Prosecutor's Office said yesterday.

The operations targeted underground remittance networks, illegal financial activities, money laundering and gambling, with the first phase running from August 17 to September 4 and the second phase from October 9 to Friday, the agency said.

During the two operations, authorities uncovered 445 cases involving illicit financial flows and obtained court approval to detain 146 suspects, the agency said.

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 70 kilograms of gold, more than 700 kilograms of silver and about 100 luxury items such as designer handbags, high-end watches and jewelry, the agency said.

In a separate statement, the Ministry of Justice's Investigation Bureau said it discovered NT$85.84 billion in illegal financial flows in 103 cases across two operations and seized approximately NT$2.25 billion in suspected criminal proceeds.

The bureau's second operation mobilized 13 field offices across the country and involved 44 cases and searches at 120 locations, it said.

Investigators interviewed 198 people, 18 of whom were ordered detained by a judge and 62 were released on bail, it said.

Meanwhile, the Criminal Police Service (CIB) said it had uncovered 22 cases of money laundering and nine cases of underground remittances so far this year.

In its sweeps targeting gambling networks, the CIB uncovered 21 cases of electoral gambling, 92 cases involving brick-and-mortar gambling establishments, 93 cases of underground lottery betting and 328 cases of online gambling involving 1,581 people, it said.

Police seized more than NT$39.31 million in cash, and the total amount related to gambling cases exceeded NT$28.2 billion, it added.

Additional reporting from CNA