The legislature yesterday passed the third reading of a draft fraud prevention act, which would stipulate prison terms and fines of increasing severity depending on the amount of money involved.
Groups or individuals who make NT$5 million (US$153,558) or more in illicit income would face a maximum prison term of 10 years and a NT$30 million fine, while those who make NT$100 million or more would face a maximum of 12 years of jail alongside a NT$300 million fine, the bill says.
The draft is part of a package aimed at combating fraud that the Executive Yuan approved on May 9. The package also includes a draft technological investigation and assurances act, amendments to the Communication Security and Surveillance Act (通訊保障及監察法) and draft amendments to the Money Laundering Control Act (洗錢防治法).
Photo: Lo Pei-de, Taipei Times
Individuals who turn themselves in would be eligible for a reduced sentence if they turned in all of the illicit proceeds, while information leading to the arrest of a ringleader and confiscation of all illegal proceeds would qualify for exemption from prosecution, the draft fraud prevention act says.
If it is signed by the president and promulgated, the act would distinguish between financial, telecommunications and digital economic fraud.
A financial institute can restrict or control access to savings accounts, electronic payment accounts, credit cards or virtual assets accounts if it suspects the tools are being used in a fraud scheme, the bill says.
They can also, upon notification by the judiciary or police, return funds or virtual assets to people whose accounts have been temporarily frozen due to fraud investigations, it says.
To help prevent overseas roaming cards and prepaid cards from being used in scams, telecoms would be ordered to disable international roaming services if there is no record of the purchaser entering Taiwan, it says.
False information submitted by an applicant for an overseas roaming card or suspicious activity by the account would result in restrictions on or suspended services, the bill says.
Internet advertising platforms of a certain size must not distribute fraudulent content, it says.
If business owners learn that a commercial or advertisement is fraudulent, they should take down the content and provide the police with information about who purchased and financed it, with a deadline on their response after being notified by the government, it says.
The Executive Yuan should establish a central government fraud prevention committee to meet quarterly, with the position of convener going to the premier or vice premier, the bill says.
Committee members should be made up of ministers without portfolio, other government officials and fraud prevention experts, it says.
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