Taiwan, Eswatini ink deal to boost anti-money laundering cooperation

Taipei, Nov. 7 (CNA) Taiwan's Investigation Bureau and the Eswatini Financial Intelligence Centre (EFIC) have signed an agreement to strengthen joint efforts against money laundering, terrorism financing, and the financing of weapons proliferation.

Investigation Bureau Director-General Michael Chen (陳白立), who signed the deal in Taipei on Thursday with EFIC Director Babhekile Gugu Matsebula, said the pact marks a new milestone in law enforcement and financial security cooperation between the two countries.

The pact is the 63rd cooperation agreement Taiwan has signed with foreign financial intelligence agencies, and it will enable a faster and more secure exchange of financial intelligence to combat cross-border financial crimes and illicit fund flows, Chen said.

He said the two sides have already held several online consultations on technical assistance and training in areas covered by the agreement.

Matsebula said Eswatini faces high risks of money laundering linked to drug trafficking, fraud, tax evasion, and corruption, as well as emerging crimes involving smuggling and virtual assets.

She said the agreement will speed up intelligence sharing and strengthen cooperation in investigations while paving the way for future joint training programs.

Eswatini is only one of 12 countries around the world and the only one in Africa to recognize Taiwan diplomatically.