Banks instructed to freeze ‘high-risk’ accounts of departed foreignersStaff writer, with CNATaiwan’s financial regulator has instructed banks to freeze suspected mule accounts held by foreign nationals who depart under certain circumstances, provided a review deems the action necessary to prevent fraud, an official confirmed yesterday. Bank accounts registered to foreign nationals who leave Taiwan under one of four designated scenarios will be flagged as high-risk for potential misuse as mule accounts, said an official with the Financial Supervisory Commission (FSC). Photo: Kelson Wang, Taipei TimesStarting in January, banks have been required to cross- reference accounts against a list of departed foreign nationals provided by the National Immigration Agency (NIA) and may exercise discretion to freeze those accounts following a review, the official said. While the policy applies to all foreign nationals, in practice it is primarily aimed at migrant workers from Southeast Asian countries, in response to reports of fraud rings using the accounts of workers who have departed Taiwan to commit crimes. When asked how quickly accounts would be frozen after a holder leaves Taiwan, the FSC official did not provide a specific timeline, noting that the speed of account freezes depends on cross-referencing NIA lists and fraud risk reviews.

Source: Taipei Times February 03, 2026 17:13 UTC