ELECTION 2024/KMT's Hou proposes stiffer penalties for fraud related crimes

Taipei, Nov. 21 (CNA) Opposition Kuomintang (KMT) presidential candidate Hou Yu-ih (侯友宜) pledged Tuesday to introduce stricter laws to crack down on fraud and enhance both inter-agency and cross-border cooperation to make such efforts more effective.
The ruling Democratic Progressive Party (DPP) has done a poor job dealing with fraud cases despite having spent NT$2.7 billion (US$86.1 million) since last year to boost manpower and technological capabilities to address the issue, Hou said at a press conference.
Nearly 30,000 fraud cases had been reported to police during the first nine months of 2023 -- up 25 percent year-on-year -- he said, suggesting current punishments provide an insufficient deterrent which explains the particularly high recidivism rate.
As a result, the current law should be amended so fraud above a certain level automatically increases the penalty by half, regardless of whether the criminal activities are committed by individuals or criminal organizations, Hou said.
Hou also pledged to increase penalties by half for those who repeatedly assist in such crimes by allowing criminals to use their accounts as a way of avoiding detection, as well as to tighten control over unidentified financial flows and underground transactions, to prevent fraud and money laundering at the source.
"The more you cheat, the longer you'll go to jail," Hou said, adding that related penalties in Taiwan are lighter than neighboring countries such as Japan and South Korea.
In Taiwan, 70 percent of sentences for fraud are below two years, while less than 10 percent are above three years, he explained.
If elected, Hou said, his government would facilitate inter-agency cooperation between the Ministry of the Interior, Ministry of Justice, Ministry of Digital Affairs, and Financial Supervisory Commission to target ever-evolving fraud schemes.
Meanwhile, given that fraud crimes are becoming increasingly organized and transnational, it requires closer international cooperation, he said, stressing that he would seek to breathe new life into the Cross-Strait Joint Crime-Fighting and Judicial Mutual Assistance Agreement between Taiwan and China, which has been in limbo due to bilateral tensions.
- Ko envisions kingmaker role for TPP in Legislative YuanThe Taiwan People's Party (TPP) will aim to double its seats to 10 in next January's legislative elections, the party's chairman and presidential candidate Ko Wen-je (柯文哲) said ...12/07/2023 05:15 PM
- DPP likely to lose legislature majority in January polls: ObserversThe ruling Democratic Progressive Party (DPP) is likely to lose its majority in Taiwan's 113-seat national legislature in January's polls, opening the way for a smaller party to ...12/06/2023 04:21 PM
- Taiwan's CEC discloses financial status of presidential candidate duosTaiwan's Central Election Commission (CEC) on Tuesday published financial disclosures statements for all three presidential candidates and their running mates, while confirming ...12/05/2023 10:47 PM
- Society
Over 6 million doses of seasonal flu vaccine administered: CDC
12/07/2023 06:14 PM - Politics
Ko envisions kingmaker role for TPP in Legislative Yuan
12/07/2023 05:15 PM - Politics
G7 reaffirms importance of peace across Taiwan Strait
12/07/2023 05:00 PM - Society
- Sports
Taipei Dome to add 4,700 seats for Asian Baseball Championship final
12/07/2023 03:57 PM