The Taipei Economic and Cultural Office (TECO) in the
Philippines and the Manila Economic and Cultural Office (MECO)
in Taiwan, hereinafter referred to as "the Contracting Parties"
desiring, in a spirit of cooperation and mutual interest, and
within the framework of each parties' national legislation, to
facilitate the investigation and prosecution of persons or
companies suspected of money laundering and criminal activity
related to money laundering and financing of other criminal
activities related to terrorism, have reached an understanding
1.Scope of Cooperation
The Parties, thru the Anti-Money Laundering Council and the
Money Laundering Prevention Center, shall cooperate, on the
basis of reciprocity, to gather, develop and analyze
information and documents in their possession concerning
financial transactions suspected of being related to money
laundering or criminal activities connected with money
laundering and financing of other criminal activities related
to terrorism. To that end, the Parties will exchange
spontaneously or upon request available financial intelligence
that may be relevant to the investigation by the Parties into
financial transactions related to money laundering and
financing of other criminal activities related to terrorism
and the persons or companies involved, subject to the
requirements of heir respective national legislation.
2.Requests for Financial Intelligence
The request shall be made in writing. In urgent circumstances
and when permitted by the Requested Party, request may be made
orally but shall be confirmed in writing thereafter. The
Requesting Party should disclose to the Requested Party at a
minimum the reason for the request, the purpose for which the
information will be used and enough information to enable the
Requested Party to determine whether the request complies with
its domestic law.
In making a request under this Memorandum, the Requesting
Party will inform the Requested Party which, if any, of the
law enforcement agencies in the country of the Requesting
Party will be given access to the information and the reasons
for providing the information to that specified agency or
3.Uses of Financial Intelligence
a.Financial intelligence exchanged between the Parties shall
be used only for the specific purpose/s for which the
financial information was sought or provided.
b.Requesting Party may use the information only in respect of
criminal matters described in the request, in case a request
has been made, and only for intelligence purposes, including
developing leads and focusing investigative resources.
c.It is understood that the information or documents obtained
in accordance with this Memorandum will not be used as
evidence in any proceedings.
4.Disclosure of Financial Intelligence
The Parties will not permit the use or release of any
information or document obtained from the counterpart Party
for purposes other than those stated in this Memorandum,
without the prior consent of the disclosing Party.
5.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 shall be protected by the same
confidentiality as provided by the national legislation of the
Receiving Party for similar information from national sources.
Notwithstanding the termination of this MOU, as provided under
Section 11 hereunder, this provision shall remain in
In addition to exchange of financial intelligence, the Parties
will cooperate in other ways. This may include the exchange of
general information regarding money laundering and other
criminal activities related to money laundering, including
analysis of financial data and exchange of studies, researches
and information on current, new and emerging trends and
typologies in money laundering.
7.Refusal of Providing Financial Intelligence
The Parties are under no obligation to give assistance if they
determine that the release of the information or documents
requested may unduly prejudice an investigation or proceeding
in the country of the Requested Party, or if judicial
proceedings have already been initiated concerning the same
facts as the request is related to, or if provision of such
information would be likely to prejudice the sovereignty,
security, national interest or other essential interests of
the Requested Party.
8.Language of Requests
Communication between the Parties shall be in English.
9.Maintenance of Audit Trail
Each of the Parties will ensure that an effective audit trail
is maintained in respect of any information supplied under the
terms of this Memorandum.
10.Working Meetings and Consultations
a.The Parties will jointly arrange, consistent with the
legislation of their respective countries, for acceptable
procedures of communication and will consult each other
with the purpose of implementing this Memorandum; and
b.If necessary, representative/s of the Parties will hold
working meetings and consultations in order to discuss how
to reinforce the cooperation within this Memorandum, and
make it more efficient.
11.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 Parties.
c.Either Party may terminate this Memorandum, of
Understanding at any time by giving 30 days notice in
writing to the other Party.
IN WITNESS WHEREOF the undersigned signs this Memorandum in
duplicate at Investigation Bureau ,Ministry of Justice ,Taiwan
this 21th day of September 2006 and in the English language.
HSIN-HSING WU Ph.D. ANTONIO I. BASILIO
Representative Resident Representative
Taipei Economic and Cultural Manila Economic and Cultural
YU-YI CHOU VICENTE S. AQUINO
Director Executive Director
Money Laundering Prevention Anti-Money Laundering Council