Taiwan has taken custody of confiscated illegal assets valued at more than US$7 million as a result of joint crackdowns with the U.S. Department of Justice on money laundering and drug trafficking, according to the Ministry of Justice Aug. 13.
The handover followed assistance from the MOJ’s Department of International and Cross-Strait Legal Affairs that resulted in the return of US$16 million in criminal proceeds to the U.S. in 2022, the MOJ said, adding that the return process took place under the Mutual Legal Assistance in Criminal Matters Act. The U.S. later launched its procedure of international sharing.
According to the MOJ, its Department of International and Cross-Strait Legal Affairs and the U.S. DOJ’s Office of International Affairs are responsible for the two sides’ negotiations, which also involved the Ministry of Foreign Affairs, Taiwan Council for U.S. Affairs and Taiwan Taipei District Prosecutors Office; and the U.S. Department of State, Department of the Treasury and Homeland Security Investigations. After deducting victim compensation and costs, the U.S. decided to share approximately 50 percent of the recovered assets with Taiwan, the ministry said.
The MOJ added that this marked the first international case shared with the U.S. since the 2002 signing of the Agreement on Mutual Legal Assistance in Criminal Matters between the Taipei Economic and Cultural Representative Office in the U.S. and the American Institute in Taiwan.
The case exemplified the firm commitment between Taiwan and the U.S. to mutual judicial assistance while also demonstrating Taiwan’s determination to combat cross-border money laundering, the MOJ said. The country is always ready to further contribute to the global community by strengthening legal cooperation with countries worldwide, the ministry added. (YCH-E)
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