Banks can freeze accounts of departed foreigners: FSCBy Fion Khan / Staff writer, with CNAFinancial institutions can temporarily freeze the accounts of foreign nationals, as some of them are being heavily exploited as “dummy accounts” after the account holders leave Taiwan, the Financial Supervisory Commission (FSC) said today. An inter-agency consensus has been reached allowing financial institutions to temporarily freeze accounts held by foreign nationals under four circumstances, the FSC said. All financial institutions are connected to the National Immigration Agency’s (NIA) system to track the departure status of foreign nationals, an FSC official said. If any of the four circumstances are met, the NIA would provide the foreign national’s information to financial institutions for customer identity verification, the FSC said. Once the person’s identity is confirmed, the bank would temporarily freeze the account, meaning no withdrawals or transfers into the account would be permitted, it said.

Source: Taipei Times February 03, 2026 08:09 UTC