Published: 2025/11/13 19:39 Updated: 2025/11/13 20:29
Yu Yanci, Guo Junlin / Comprehensive Report
The Prince Group has been embroiled in a transnational fraud and money laundering case, drawing international attention. The investigation also revealed that members of the group not only owned luxury homes and cars in Taiwan, but also rented a 100-ping (approximately 33 square meters) office in Taipei 101 as a guesthouse. Taipei 101 Chairman Jia Yongjie spoke out for the first time today (13th), expressing “shock and anger.” To curb fraud crimes, the Executive Yuan today passed an amendment to the “Fraud Crime Prevention Act,” lowering the threshold for financial loss to victims from NT$5 million to NT$1 million. This encourages defendants to pay the full amount of the settlement to the victims within six months of confessing or surrendering, allowing the court to decide whether to reduce the sentence. Prince Group, previously embroiled in a transnational fraud case, was found to own luxury homes and cars, and its subsidiary, “Tianxu International,” was also found to have rented 100 ping (approximately 33 square meters) of space in Taipei 101 as a guesthouse. Taipei 101 Chairperson Chia Yung-chieh issued a statement in response, stating that Taipei 101 has no public authority to investigate its tenants’ backgrounds and appealing to the government for oversight.
To prevent fraud, the Executive Yuan passed amendments to the “Fraud Crime Prevention Act” on the 13th, increasing statutory penalties for high-value fraud crimes and accelerating severe punishment.
Ms. Chiu, a Taipei resident, commented, “This is great; it will prevent more people from being scammed.”
Ms. Lin, another Taipei resident, felt, “Regardless of the amount of money involved, if there’s any intent to defraud, it’s wrong, and the punishment should be heavier.”
Mr. Tsai, a Taipei resident, stated, “This amendment is a good thing; at least you’re starting to make progress.”
For high-value fraud crimes, those defrauding more than NT$100 million will face more than seven years in prison, with a maximum fine of NT$500 million. The threshold for financial loss has been lowered from NT$5 million to NT$1 million. Furthermore, perpetrators are encouraged to receive a reduced sentence if they surrender themselves and pay the full amount to the victim within six months of confessing.
Deputy Minister of Justice Huang Mou-hsin explained, “The entire litigation process may result in delays, and some defendants may even feign a settlement to gain leniency from the court, but in reality, they do not substantively comply.”
The amended law also adds anti-luxury clauses. Before returning the defrauded amount, if the defendant purchases luxury cars or engages in extravagant lifestyles exceeding those of ordinary people, it will be a factor in sentencing. The Financial Supervisory Commission has also established a legal framework for financial fraud prevention, including a protection mechanism for suspected fraud victims and an inter-industry consultation mechanism.
Financial Supervisory Commission (FSC) Banking Bureau Director Tung Cheng-chang pointed out, “For example, if a member of the public previously transferred funds to an account flagged by the police, when the police provide these lists to financial institutions, the institutions can strengthen their protection measures for the public.”
The Department of Criminal Justice and Graduate Institute of Science at Ming Chuan University, Wang Po-chi, said, “Perhaps after such a policy is implemented, there will be some rolling revisions over a period of time, maybe every three months or quarter.”
Scholars believe that the government’s establishment of a national anti-fraud team to actively combat fraud requires the involvement of all ministries, and only through integration and overall planning can the effectiveness of anti-fraud efforts be improved.