The Taiwan Stock Exchange (TWSE) held a financial technology forum in Taipei on Tuesday that focused mainly on preventing money laundering.
The TWSE said the one-day forum explored anti-money laundering strategies as well as ways to detect and prevent financial crimes in the future so that investors' rights can be protected.
The forum came barely a week after the New York branch of Taiwan-based Mega International Commercial Bank was fined US$180 million for violating anti-money laundering laws in the United States.
The forum also focused on the current and future application of financial technology in capital markets.
Financial technology, known commonly as "fintech," has gradually changed capital and financial markets, the TWSE said.
It noted that Taiwan's top financial regulator, the Financial Supervisory Commission, has proposed 10 development plans to boost fintech development across different financial services, including banking, securities and insurance.
Source: Focus Taiwan