| Summary: | 碩士 === 國立政治大學 === 法律學系 === 107 === With the development and popularization of the Internet and technology, in recent years, 80 percent of consumers interacted with their bank via self-service channels, such as websites and phone support. This situation promote the development of Internet-only banks.
Recently, The Financial Supervisory Commission of Taiwan actively promote "creating digital financial environment 3.0" plan. In addition, The Financial Supervisory Commission of Taiwan considered that the introduction of this new type of bank will enable the market to learn from the new business experience, enhance the impetus for industrial upgrading, help the bank to meet the opportunities of digital development, encourage financial innovation and deepen the popularization of finance. Therefore, Taiwan decided to set up Internet-only banks to satisfy the new generation of consumer demand, to provide customers more comprehensive financial services.
By observing the update trend of FATF’s recommendations and anti-money laundering regulations, it can be seen that the supervision and practical operation of international anti-money laundering(AML) and counter-terrorism financing(CTF) have become increasingly strict in recent years. And the financial institutions play an important role in the process of AML/CTF. Through the financial institutions' good internal controls, risk management and AML policies, it is often possible to find money laundering or terrorist activities at the first time and stop them Immediately.
According to the Standards Governing the Establishment of Commercial Banks article 18-1, the internet-only bank means a bank that offers services predominately or exclusively over the internet and apart from the head office and a customer service center to take care of customers’ needs face to face, an internet-only bank may not establish physical branches. In other words, the internet-only bank will not actually contact customers face to face. Therefore, in terms of customer identification for anti-money laundering, the internet-only bank lacks face to face identification of customers, which reduces the chance of identifying suspicious objects of money laundering and terrorism in the first time. In addition, The characteristics of internet-only bank is not restricted by national borders, increase the difficulty of the meet customer operations, also more vulnerable to international criminal use tool for money laundering.
To sum up, this article first discuss the risk of money laundering of internet-only bank, then analyzes foreign legislative policies and the use of Regtech, hope to improve the practice of anti-money laundering and counter-terrorism financing of internet-only bank, and achieve a balance between regulatory compliance and financial innovation.
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