Goto Main Content
Justices of the Constitutional Court
Add New Folder
MEMORANDUM OF UNDERSTANDING BETWEEN MONEY LAUNDERING PREVENTION CENTER, INVESTIGATION BUREAU, MINISTRY OF JUSTICE, REPUBLIC OF CHINA (TAIWAN) AND THE FINANCIAL INVESTIGATION UNIT OF BERMUDA CONCERNING COOPERATION IN THE EXCHANGE OF FINANCIAL INTELLIGENCE RELATED TO MONEY LAUNDERING AND FINANCING OF TERRORISM
1.Signed on May 28, 2007; Entered into force on May 28, 2007.
The Money Laundering Prevention Center, Ministry of Justice,
Republic of China (Taiwan) and the Financial Investigation Unit
of Bermuda, hereinafter referred to as "the Authorities",
desire, in a spirit of cooperation and mutual interest, and
within the framework of each Authority's national legislation,
to facilitate the prevention and detection of money laundering
and also to facilitate the analysis and investigation of persons
or companies suspected of criminal activity related to money
laundering and financing of terrorism.
To those ends, they have reached the understandings set forth
1. Scope of Cooperation
To the extent authorized by the laws of its country, and
consistent with its own policies and procedures, each
Authority will cooperate to exchange financial intelligence,
in the form of information or documents concerning financial
transactions suspected of being related to money laundering
or criminal activities connected with money laundering and
financing of terrorism. To that end, the Authorities will
exchange spontaneously or upon request any available
financial intelligence that may be relevant to the
investigation by the Authorities into financial transactions
related to money laundering and the persons or companies
2. Requests for Financial Intelligence
The requesting Authority should disclose to the requested
Authority at a minimum the reason for the request, the
purpose for which the information will be used and enough
information to enable the requested Authority to determine
whether the request complies with its domestic law.
3. Uses of Financial Intelligence
a.Financial intelligence exchanged between the Authorities
may be used only for the specific purpose for which the
financial information was sought or provided.
b.The receiving Authority may not transfer financial
intelligence shared by a disclosing Authority to a third
party, nor make use of the financial intelligence for
investigative, prosecutorial or judicial purposes, to deal
with no dissemination to any third party without the prior
consent of the disclosing Authority.
c.It is understood that information obtained in accordance
with this Memorandum can be used in justice only when
related to money laundering originating from predicate
offences provided in the anti-money laundering legislation
of the respective Authorities.
4. Confidentiality of Financial Intelligence
The financial intelligence acquired in application of this
Memorandum and the fact that the information was provided
should be kept confidential. It should be protected by at
least the same confidentiality as provided by the national
legislation of the receiving Authority for similar
information from national sources. Each of the Authorities
will ensure that an effective audit trail is maintained in
respect of any information supplied under the terms of this
5. Refusal of Providing Financial Intelligence
The Authorities are under no obligation to give assistance if
judicial proceedings have already been initiated concerning
the same facts as the request is related to.
6. Working Meetings and Consultations
If necessary, the representative of the Authorities will hold
working meetings and consultations in order to discuss how to
reinforce the cooperation within this Memorandum, and make it
7. Communication between the Authorities
Communication between the Authorities shall as far as
possible take place in English.
8. Effective date; Amendment; Termination
a.This Memorandum will become effective upon signature by the
b.This Memorandum may be amended at any time, in writing, as
mutually arranged by the Authorities.
c.Either Authority may terminate this Memorandum by 30 days
notice in writing to the other Authority.
d.Notwithstanding, the termination of this Memorandum, the
confidential provision refer to in Article 4, shall remain
IN WITNESS WHEREOF the undersigned signs this Memorandum in
duplicate at ___________this day of ___________, 2007 and in the
Yu-Yi Chou Gary J. Wilson
Director Head of FIU
Money Laundering Prevention Financial Investigation Unit of
Ministry of Justice
Republic of China (Taiwan)