Only 1% Appeal Success Rate for 120,000 Anti-Fraud Warned Accounts, Legislators Call for Relief Mechanism

Taiwan's Money Laundering Control Act introduced a "warned account" system to combat fraud, freezing online banking functions for 5 years for those who illegally provide accounts. However, Legislator Wang Hung-wei pointed out that out of over 124,000 warned accounts, many belong to innocent victims involved in normal e-commerce transactions. Even after being proven innocent or cleared of charges, the appeal success rate to remove the warning is only about 1%. Legislators are urging relevant ministries to establish a cross-departmental relief mechanism for innocent citizens to restore their online transaction rights.