TERRORISM FINANCE: DOMESTIC DESIGNATION OF FOUR

UNCLAS AIT TAIPEI 000222 SIPDIS SIPDIS STATE FOR EEB/ESC/TFS/DBENDANA, NEA/I/JKONDOS, NEA/IR/RGERBER, AND S/CT/TDROZDENKO TREASURY FOR TFFC LADAN ARCHIN E.O. 12958: N/A TAGS: KTFN EFIN PTER PREL FARM PREL MNUC ECON TW IR SUBJECT: TERRORISM FINANCE: DOMESTIC DESIGNATION OF FOUR INDIVIDUALS AND ONE ENTITY UNDER EXECUTIVE ORDER 13438 REF: 08 STATE 03749 ¶1. Per ref A, Taiwan's Financial Supervisory Commission (FSC) issued a formal instruction on February 2, 2008, providing all banking institutions with information on four individuals (including Ahmed Foruzandeh) and one entity (Al Zawra Television Station) designated by the U.S. Department of Treasury pursuant to U.S. E.O.13438 on November 9, 2008. ¶2. The FSC asked banking institutions in Taiwan to strengthen monitoring over transactions with the designated individuals which will arise because the U.S. has prohibited the U.S. banking sector from engaging in transactions with these individuals and the entity. The FSC required them to treat transactions with the designated individuals/entity and their beneficiaries as suspected money laundering transactions, and instantly report these transactions to the Ministry of Justice Investigation Bureau for further investigation and action. ¶3. The FSC also asked the following industry associations to request their members to comply with the February 12, 2008 instructions: --Credit Cooperation Association --Bills Finance Association --Securities Firms Association --Securities Investment Trust and Consultant Association --Futures Commissioners Association --Life Insurance Association --Non-life Insurance Association --all jewelry associations --Credit Card Firms Association YOUNG