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Establishing ethical finance, stopping fraud

2025/09/22

In an effort to build up two major financial service mechanisms—"fair treatment of customers" and "ethical finance"—the public-sector corporate group composed of Taiwan Financial Holdings, the Bank of Taiwan, BankTaiwan Life Insurance, and BankTaiwan Securities on 27 September jointly held the "Taiwan Financial Holdings 2025 Financial Forum: Implementing Fair Treatment of Customers While Building Ethical Finance." More than 200 directors, members of senior management, managerial officers, and customers of the Taiwan Financial Holdings group were invited to take part in the Forum.

In remarks, Taiwan Financial Holdings (TFH) Chairperson Jong-Yuan Ling stated that TFH and its subsidiaries comply with the measures of the Financial Supervisory Commission to strengthen anti-fraud mechanisms, and they are working actively to adopt and enhance the implementation of regulations needed to ensure ethical business practices. To prevent fraud, the TFH group is working hand-in-hand with law enforcement authorities to keep members of the public from getting scammed, and to prevent fraudulent financial transactions from being completed. Also, in order to enhance the transparency of money flows and integrity governance, the group has adopted an ISO 37001 anti-bribery management system, thus becoming the first financial institution in Taiwan to obtain this ISO certification. She expressed hope that the Forum would enable the participants to better implement business ethics and protect the security of people's assets.

Political Deputy Minister of Finance Juan Ching-Hwa delivered a speech in which he addressed participants from TFH and its subsidiaries. He said that members of the public and customers have more faith in the companies in the TFH group precisely because the latter are government-owned, and this extra level of trust brings with it the extra weight of added responsibility. Accordingly, establishing proper corporate governance, and forming an ethical business culture, are the fundamental principles that guide how a public-sector financial institution meets its customers' expectations, and how it carries out its mission. The Deputy Minister also stated that the Ministry of Finance will continue to guide public-sector financial institutions to make steady improvements in the areas of corporate governance, fintech innovation, and sustainable development in order to align with trends in the international financial industry. He also expressed confidence that high-tech empowerment can make financial services more efficient and fair, while promotion of sustainable finance is the most direct manifestation of business ethics.

Ministry of Justice Chief Secretary Yu Li-Chen delivered remarks in which she noted that "integrity" plays an extremely critical role at financial institutions. Only by building an ethical business culture can a financial institution win the trust of its customers. And only after it has a sound integrity governance framework to serve as the foundation of its customers' trust can a financial institution achieve stable development. In order to strengthen its security network, the Ministry of Justice for many years has worked to promote whistleblower protection legislation. Taiwan's first special whistleblower protection law, the "Public Interest Whistleblower Protection Act," formally entered into force on 22 July 2025 and protects whistleblowers employed anywhere in the public sector. In addition to providing an environment in which whistleblowers can report wrongdoing without fear, this Act also helps public-sector enterprises to avail themselves of fully developed legal procedures to effectively eliminate risks and abuses.

The Taiwan Financial Holdings 2025 Financial Forum featured two keynote speakers. Morgan M.H. Hsieh, Director of the AI Innovation Lab at National Chengchi University, and Bob Hung, General Manager of Trend Micro Taiwan, were invited to share their insights on how digital technology is driving improvements in financial inclusion and the use of technology to prevent fraud. Furthermore, because the Financial Supervisory Commission (FSC) launched the Asian Asset Management Center initiative last year, and money flows are one of the five key focal points for pushing the development of the Center, in today's international environment where prevention of money laundering is a matter of ever increasing importance, the Forum also held a panel discussion on the topic of "Adopting International Financial Transparency to Enhance Financial Services in Taiwan" in an effort to further enhance the transparency of financial services in Taiwan. Invited to serve as panelists were: Deputy Director General Wang Yun-Chung of the FSC Banking Bureau; Head Prosecutor Lo Wei-Yuan of the Taiwan ShiLin District Prosecutors Office; Executive Yuan Anti-Money Laundering Office, Staff Consultant Liu Hsin-Yu; and TFH Chief Compliance Officer Lin Yi-Pao.

  • Contact:Chief Compliance Officer, Lin Yi-Pao
  • Tel: (02)2349-3389