Saint Lucia and Taiwan sign Memorandum of Understanding

[dropcap]R[/dropcap]epublic of China (Taiwan) and Saint Lucia inked Memorandum of Understanding Concerning Cooperation in the Exchange of Financial Intelligence Related to Money Laundering, Associated Predicate Offences and Terrorism Financing on January 9, 2017. Mr. Paul Thompson, Director of Financial Intelligence Authority signed the MOU on behalf of the Saint Lucian government at a brief ceremony held at the Embassy of the Republic of China (Taiwan). Ambassador Ray Mou witnessed the signing process.

Conforming to the spirit and guidelines of Egmont Group, the MOU will facilitate the exchange of information between Saint Lucia’s Financial Intelligence Authority and Taiwan’s Anti-Money Laundering Division, Investigation Bureau. The two financial intelligence units have worked together at previous Egmont Group meetings, and recognized the importance of bilateral collaboration in the wake of prevention increasing cross-border financial crimes.

Ambassador Ray Mou lauded the efforts made by the two parties, he commented that this MOU will not only serve to deter money laundering and terrorism financing, but will also play a positive role in encouraging reliable capital flow and investment between the two diplomatic allies. He added that this agreement signaled a good beginning to 2017, and expected more good news in regard to Taiwan-Saint Lucia bilateral cooperation in store later this year.