The Internal Affairs Committee of the Legislative Yuan today passed the preliminary review of the "Fraud Crime Prevention Act." Lawmakers from both the ruling and opposition parties joined forces to increase the penalties for large-scale fraud crimes, aiming to combat fraud. According to the draft, those who profit from fraud up to 5 million New Taiwan Dollars can be sentenced to a maximum of 10 years in prison. Those who profit up to 100 million New Taiwan Dollars can be sentenced to a maximum of 12 years in prison and fined up to 300 million New Taiwan Dollars. This is one of the major measures to combat fraud crimes.
The draft also regulates online advertising fraud, requiring online advertising platform operators not to publish or broadcast content involving fraud. It explicitly requires operators to promptly remove fraudulent advertisements when discovered, with violators subject to fines. Image by flicker.
On the other hand, the Executive Yuan has passed three supporting amendments, including the "Special Anti-Fraud Act," the draft of the Technology Investigation and Protection Act, the draft amendments to certain provisions of the Communication Protection and Monitoring Act, and the draft amendments to the Anti-Money Laundering Act. These measures collectively form the legislative foundation for combating fraud and are currently being submitted to the Legislative Yuan for review.
However, during the preliminary review by the Internal Affairs Committee, lawmakers from both parties questioned the government's insufficient handling of NFT fraud issues, leading to the retention of certain provisions for further negotiation. Additionally, some lawmakers advocated for harsher penalties for fraud crimes. The final version of the draft increased the penalty for those who profit from fraud up to 5 million New Taiwan Dollars to 10 years in prison, with an additional fine of 30 million New Taiwan Dollars.
According to the draft, those who profit from fraud up to 5 million New Taiwan Dollars can be sentenced to a maximum of 10 years in prison. Those who profit up to 100 million New Taiwan Dollars can be sentenced to a maximum of 12 years in prison and fined up to 300 million New Taiwan Dollars. Image by flicker.
Furthermore, the draft regulates online advertising fraud, requiring online advertising platform operators not to publish or broadcast content involving fraud. It explicitly requires operators to promptly remove fraudulent advertisements when discovered, with violators subject to fines.
The Internal Affairs Committee also passed an attached resolution, requiring the Executive Yuan to establish a central committee for fraud prevention to strengthen the fight against fraud crimes. Notably, Legislative Yuan President Han Kuo-yu made a rare appearance to participate in the committee's discussions today.
