Taiwan busts alleged NT$1.3 billion laundering network

台灣破獲涉案新台幣13億元洗錢網路

TAIPEI (Taiwan News) — A suspected money-laundering network moved gambling funds through at least 14 shell companies and other accounts before eight people were indicted in Taichung, prosecutors said Wednesday.

The alleged operation ran from September 2025 through June of this year and handled more than NT$1.39 billion (US$43.5 million). Investigators also said an illegal platform called YD Payment collected a 3.5% commission on processed payments in addition to fees, per CNA.

Money was allegedly moved through a real estate company and withdrawn by ATM cash couriers before being transferred into company accounts. Investigators also found a fake luxury-goods platform and false invoices, while settlement agreements were allegedly used to confuse the nature of flagged transactions, per Mirror Daily.

One member of the group allegedly used company accounts to buy US dollars, describing them as “import payments” in filings. The funds were then used to buy the stablecoin Tether on cryptocurrency exchanges in Hong Kong, with one wallet receiving and sending about 13.2 million USDT (US$13.2 million) over seven months, Mirror Daily reported.

Investigators carried out several rounds of searches between April and June, seizing more than 30 account passbooks, company seals, electronic equipment, false transaction documents, and more than NT$640,000 in cash, according to the reports. Meanwhile, four detained suspects were held incommunicado.

The indictment also asks the court to confiscate more than NT$1.3 billion that prosecutors say was involved in the laundering.