Taipei: Taiwan's Investigation Bureau and the Eswatini Financial Intelligence Centre (EFIC) have signed an agreement to bolster joint efforts against money laundering, terrorism financing, and the financing of weapons proliferation. Investigation Bureau Director-General Michael Chen and EFIC Director Babhekile Gugu Matsebula formalized the pact in Taipei, highlighting a new milestone in law enforcement and financial security cooperation between the two nations.

According to Focus Taiwan, the agreement marks the 63rd cooperation pact Taiwan has established with foreign financial intelligence agencies. The arrangement aims to facilitate a faster and more secure exchange of financial intelligence to tackle cross-border financial crimes and illicit fund flows. Director-General Chen emphasized that the two sides have already engaged in several online consultations focused on technical assistance and training relevant to the agreement.

Director Matsebula acknowledged the high risks Eswatini faces concerning money laundering activities tied to drug trafficking, fraud, tax evasion, and corruption. She also pointed out emerging crimes involving smuggling and virtual assets. Matsebula expressed that the agreement will expedite intelligence sharing, enhance cooperation in investigations, and lay the groundwork for future joint training initiatives.

Eswatini remains the only African country and one of just 12 countries globally that recognize Taiwan diplomatically.