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PEP Corruption Cases ‘Exploding’ as Banks, Jurisdictions Improve Monitoring
By Brian Monroe
printWhen Taiwanese authorities arrested former Prime Minister Chen Shui-bian and his wife on money laundering charges in December, it came as a surprise to the country he once led. Prior to the case, the Taiwanese government had never gone after a former leader for crimes allegedly committed while in office. The criminal charges, which follow Taiwan's passage of anti-corruption laws in February 2003 and precede the introduction of similar measures in January, are indicative of broader, international efforts to combat corruption associated with the political elite, according to compliance consultants. The fruits of those efforts, buoyed by maturing anti-money laundering...
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