TAIPEI (TVBS News) — Taiwan's legislature passed the initial review of amendments to the Fraud Crime Hazard Prevention Act (詐欺犯罪危害防制條例) on Wednesday (Dec. 17). The Internal Administration Committee (內政委員會) of the Legislative Yuan (立法院), Taiwan's parliament, approved the proposed changes. The amendments lower the high-value fraud threshold from NT$5 million (around US$159,200) to NT$1 million (around US$31,850) and impose stricter penalties.
Interior Minister Liu Shyh-fang (劉世芳) outlined three main goals for the amendments: intensifying punishments, expediting legal proceedings, and bolstering protections for fraud victims. The changes would empower judicial and prosecutorial agencies to proactively notify financial institutions to flag and suspend transactions on accounts suspected of fraudulent activity. This measure seeks to prevent the escalation of fraud-related financial crimes by enabling authorities to intervene more quickly.
Offenders committing fraud of NT$1 million (around US$31,850) or more could face three to ten years in prison under the proposed amendments. Fraud exceeding NT$10 million (around US$318,500) could result in five to twelve years imprisonment and fines up to NT$300 million (around US$9.55 million). The changes represent a significant increase in penalties for high-value fraud crimes targeting Taiwan's financial system.
Fraud exceeding NT$100 million (around US$3.18 million) could carry a minimum seven-year prison sentence and fines up to NT$500 million (around US$15.92 million). The amendments also impose harsher sentences on those who incite or exploit minors under 18, individuals over 80, or non-citizens to commit fraud. Such offenders would face sentences increased by half under the proposed legislation.
