Taiwan and the U.S. recently concluded their first reciprocal transfer of illegally obtained assets, marking a milestone in the two sides’ judicial collaboration, the Ministry of Justice announced at a news conference Oct. 17 in Taipei City.
According to the MOJ, Taiwan seized and returned US$16 million in illicit resources derived from money laundering and drug trafficking in response to a request from the U.S. Department of Justice. The process took place under the Agreement on Mutual Legal Assistance in Criminal Matters between the Taipei Economic and Cultural Representative Office and the American Institute in Taiwan.
Following the transfer in 2022, the U.S. also launched a mechanism to remit confiscated assets to Taiwan and decided to hand back approximately 50 percent of the recovered funds in August after compensating the victims and deducting costs, the ministry added.
MOJ Minister Cheng Ming-chien said during the event that the U.S. decision exemplifies the two sides’ firm commitment to legal assistance and reaffirms their mutual trust. Taiwan will continue to deepen cooperation with international partners such as the U.S. to combat transnational crime and safeguard global justice and the rule of law, he added.
According to the MOJ, AIT Director Raymond Greene and Brian Sherota, director of the AIT’s Homeland Security Investigations office, were both in attendance. Sherota stressed that the case demonstrates the power of bilateral collaboration in fighting cross-border crimes. (YCH-E)
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