Taiwan authorities crack down on illegal funds to protect elections

Taiwanese prosecutors, police, and the Investigation Bureau have conducted a major crackdown on illegal financial flows to prevent foreign interference in the upcoming local elections. The operation, carried out between August 17 and September 4, targeted underground banking, money laundering, and gambling syndicates.

The High Prosecutors Office reported seizing approximately NT$909 million in cash and bank account proceeds, along with over 390,000 Tether (USDT) tokens, 20 vehicles, and various luxury goods. The crackdown involved 212 cases with 588 people implicated, resulting in 75 people being detained by court order.

Separately, the Investigation Bureau reported a broader cumulative seizure of illegal criminal flows totaling over NT$62.8 billion across 54 cases. This included NT$11.1 billion in underground remittances and NT$42.3 billion in money laundering through gambling houses. Authorities highlighted specific tactics used by foreign entities, such as using proxy accounts on platforms like Shopee and utilizing Hong Kong phone numbers to operate gambling-related money laundering hubs. The primary goal of these operations is to block illicit funds from entering the country to influence election fairness and national security.