Taiwan seizes NT$62.8 billion in illegal money flows ahead of elections
Taiwan has launched a nationwide crackdown on dirty money it fears could be used to sway upcoming elections, a win for regulators but a sign of how deep foreign-linked laundering runs.
- Prosecutors and investigators hit 54 cases at once, searching more than 200 places, questioning 559 people and jailing 25.
- Total illegal money traced came to NT$62.8 billion, with luxury cars, designer bags and property seized.
- The biggest case involved a gang moving NT$8.4 billion overseas through shell companies and fake books, tied to a drug smuggling ring.
- Other schemes swapped Taiwan dollars for Chinese yuan through mainland bank and payment accounts, and used hundreds of rented online shop accounts selling fakes to push over NT$4 billion abroad.
Outlook: More sweeps are expected as authorities try to cut off cross-border cash before the vote.