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MOJ increases training for financial crime investigators

Prosecutors, assistants and investigators wishing to investigate financial crimes will need to obtain an intermediate-level or higher professional finance certificate after the implementation of a new system on July 1, 2010, Ministry of Justice (MOJ) officials said on Monday.

The new certification system, initiated by former minister of justice Morley Shih (施茂林) earlier this year, seeks to increase the quality of investigation and the conviction rates for financial crimes, the officials said.

They said the ministry’s Investigation Bureau and the Securities and Futures Institute had already cooperated in training 170 investigators around the country to investigate corporate corruption.

Cooperation with the Taiwan Academy of Banking and Finance and the Financial Supervisory Commission in training prosecutors is expected to begin next month.

Officials from the ministry’s Department of Prosecutorial Affairs said finance courses at elementary, intermediate and high levels would be offered, with the elementary level focusing on general finance and including an introduction to capital markets, banking and securities practice, corporate internal control systems and interpreting financial statements.

The intermediate level will emphasize investigating skills, with courses on how to investigate stock market players, embezzlement, insider trading, illegal income, case studies and financial checks.

Courses at the higher levels will include investigating mergers and acquisitions as well as the practices and criminal strategies of offshore companies.

The officials said that the intermediate course would last 48 hours, while elementary and high-level courses would each last 24 hours.

The lecturers would include directors of banking and financial agencies or research institutions, as well as professors and prosecutors with experience in investigating economic crimes.

Prosecutors and investigators who pass the evaluation at the end of the courses will be awarded a certificate by the ministry and the Investigation Bureau, the officials said.
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