The Anti-money Laundering Supervision of FinTech Industry─Take American Federal Law as Reference

• Main Authors: Sun, Yung-Wei, 孫永蔚
• Other Authors: Lin, Chih-Chieh
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/cq72j2

碩士 === 國立交通大學 === 科技法律研究所 === 106 === FinTech refers to the use of technology to improve the efficiency of financial services and the further development of the Internet-based service platforms. However, the development of the FinTech itself involves a number of regulatory breakthroughs. The operators in the current FinTech industry may include traditional financial institutions and non-financial institutions. Moreover, the innovative services have not been limited to traditional financial services, and may therefore lead to a qualitative change in traditional financial supervision. Take the Financial Technology Development and Innovation Experimentation Act of Taiwan for example, it allows non-financial institutions to engage in certain financial services business. Under this change, whether the non-financial institutuion FinTech operators should fully integrate into the same financial supervision network becomes a dilemma. In the absence of relevant regulatory systems, the anonymity and high convenience of these platforms may assist on money laundering and become high-risk areas. The anti-money laundering issue is therefore highly related to the development of FinTech industry. This thesis will conduct a study on anti-money laundering supervision on FinTech industry, comparative law study and practical intercultural interviews discussing the practical status of FinTech industry to see whether financial technology operators should be included in the current anti-money laundering supervision system, and how it shall be regulated. The study will take US Federal legislation as a reference and lesson. The US law system has already incorporated certain types of FinTech practitioners into the anti-money laundering supervision system. In recent years, FinCEN has imposed penalties on financial technology practitioners for violating anti-money laundering regulations (AML) and Bank Secrecy Acts (BSA). The first case is the 2015 Ripples Lab case, and the latest one is the 2017 BTC-e case. Further, since electronic payment is one of the earlist developed FinTech services, this study will look into the The Act Governing Electronic Payment Institution of Taiwan, which already have relatively complete anti-money laundering supervision regulations to discuss the possibility of applying the experience of supervising electronic payment to other FinTech services. Through the study, this thesis wishes to propose a money laundering prevention regulation model suitable for Fintech industry of Taiwan, which can not only effectively encourage the development of FinTech industry but also can prevent delicts.