Financial officials who have not actively sought to fulfill their duties when overseeing banking, capital investment and corporate operations should be subject to strict criminal penalties to discourage financial crimes, a prosecutor said on Saturday.
Hsu Yung-chin (
Hsu, the country's first prosecutor to be assigned to the Financial Supervisory Commission (FSC), said that during his stint there, he saw many financial officials who only passively policed share sales and corporate accounting.
Hsu, who has investigated high-profile financial scandals such as the Taiwan Development Corp insider trading case involving President Chen Shui-bian's (
However, such criminal activities might also indicate weaknesses in legal, economic, social and political mechanisms, Hsu said.
Corporate financial scandals may also in a sense be caused by negligence on the part of internal monitors, he said, adding that accounting and administrative supervisors should rethink their work methods and ask whether they fulfill their duties.
If supervisory units fail to actively cooperate with prosecutors, Hsu said, that in itself should be probed.
With that in mind, Hsu said, financial supervisors who have been lax or passive in carrying out their watchdog duties should be prosecuted and given harsh prison sentences to send a clear signal that corporate crime will be prosecuted.
Former president Tsai Ing-wen (蔡英文) on Monday called for greater cooperation between Taiwan, Lithuania and the EU to counter threats to information security, including attacks on undersea cables and other critical infrastructure. In a speech at Vilnius University in the Lithuanian capital, Tsai highlighted recent incidents in which vital undersea cables — essential for cross-border data transmission — were severed in the Taiwan Strait and the Baltic Sea over the past year. Taiwanese authorities suspect Chinese sabotage in the incidents near Taiwan’s waters, while EU leaders have said Russia is the likely culprit behind similar breaches in the Baltic. “Taiwan and our European
The Taipei District Court sentenced babysitters Liu Tsai-hsuan (劉彩萱) and Liu Jou-lin (劉若琳) to life and 18 years in prison respectively today for causing the death of a one-year-old boy in December 2023. The Taipei District Prosecutors’ Office said that Liu Tsai-hsuan was entrusted with the care of a one-year-old boy, nicknamed Kai Kai (剴剴), in August 2023 by the Child Welfare League Foundation. From Sept. 1 to Dec. 23 that year, she and her sister Liu Jou-lin allegedly committed acts of abuse against the boy, who was rushed to the hospital with severe injuries on Dec. 24, 2023, but did not
LIKE-MINDED COUNTRIES: Despite the threats from outside, Taiwan and Lithuania thrived and developed their economies, former president Tsai Ing-wen said Former president Tsai Ing-wen (蔡英文) on Saturday thanked Lithuania for its support of Taiwan, saying that both countries are united as partners in defending democracy. Speaking at a reception organized by the Lithuania-Taiwan Parliamentary Friendship Group welcoming her on her first visit to the Baltic state, Tsai said that while she was president from 2016 to last year, many Lithuanian “friends” visited Taiwan. “And I told myself I have to be here. I am very happy that I am here, a wonderful country and wonderful people,” Tsai said. Taiwan and Lithuania are in similar situations as both are neighbors to authoritarian countries, she
Taiwanese indie band Sunset Rollercoaster and South Korean outfit Hyukoh collectively received the most nominations at this year’s Golden Melody Awards, earning a total of seven nods from the jury on Wednesday. The bands collaborated on their 2024 album AAA, which received nominations for best band, best album producer, best album design and best vocal album recording. “Young Man,” a single from the album, earned nominations for song of the year and best music video, while another track, “Antenna,” also received a best music video nomination. Late Hong Kong-American singer Khalil Fong (方大同) was named the jury award winner for his 2024 album
RSS