TERRORISM FINANCE: U.S. DESIGNATION OF THE WAAD PROJECT

UNCLAS AIT TAIPEI 000125 SIPDIS STATE FOR INS, NEA/IR, EEB/ESC/TFS/CHRIS BACKEMEYER, NEA/I/JKONDOS, AND S/CT/TDROZDENKO TREASURY FOR TFFC LADAN ARCHIN E.O. 12958: N/A TAGS: EFIN KTFN PTER ETTC PREL PINR ECON LE TW SUBJECT: TERRORISM FINANCE: U.S. DESIGNATION OF THE WAAD PROJECT REF: STATE 01800 ¶1. (U) Per reftel, Taiwan's Financial Supervisory Commission (FSC) issued a formal instruction on February 3, 2009, providing all banking institutions with information on the U.S. Department of the Treasury's designation of the Waad Project in Lebanon under Executive Order 13224. ¶2. (U) In the instruction, the FSC directs Taiwan banking institutions to treat transactions with the designated individuals 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. (U) The FSC also asked the following industry associations to ask their members to comply with the February 3, 2009 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