TAIPEI (Taiwan Information) — The Taoyuan Metropolis Police raided three retailers run by migrant employees from Southeast Asia on Thursday (Dec. 19) and found that the retailers had been secretly used as unlawful banks for the final six years.
The police stated that it was the most important unlawful cash switch case lately and that 4 overseas employees have been arrested for violating the Banking Act. In line with Liberty Instances, the suspects allegedly used meals and attire retailers as fronts for his or her illegal financing actions, receiving funds from compatriots in change for sending a reimbursement to their dwelling international locations.
Primarily based on the accounting books discovered by the police, the suspects acquired fee charges as excessive as NT$2 million (US$66,300) for a single switch. The police estimated that the 4 suspects have amassed greater than NT$7 billion (US$23 million) in revenue, reported CNA.
The police added that shoppers of the retailers got “reward factors” that might be exchanged for on a regular basis equipment as soon as they’d used the remittance service a number of instances. The police burdened that unlawful banks might negatively influence Taiwan’s monetary system and warned foreigners that breaking the regulation just isn’t well worth the danger.