Image Credit: Taiwan News
The United States has returned $7 million to Taiwan, marking a milestone in their bilateral judicial cooperation. This transfer, finalized in August, stems from a successful cross-border drug trafficking and money laundering case that began in 2022. Taiwan had previously seized $16 million in criminal assets related to these crimes, which were subsequently sent to the U.S. Department of Justice (DOJ) under the Mutual Legal Assistance in Criminal Matters Act established in 1991.
The Taiwan Ministry of Justice (MOJ) reported that the U.S. government expressed gratitude for Taiwan’s role in combating international money laundering. The asset division was the result of extensive negotiations involving multiple U.S. agencies, including the DOJ, the Department of State, the Department of the Treasury, and the Department of Homeland Security, alongside Taiwan’s MOJ, Ministry of Foreign Affairs, and Taipei District Prosecutors Office.
After deducting handling fees and victim compensation costs, the U.S. returned 50% of the asset’s value to Taiwan, totaling approximately $7 million. This return represents the first instance of such a bilateral asset-sharing agreement under the judicial accord between the U.S. and Taiwan. The MOJ highlighted that this case underscores the strong commitment of both nations to mutual criminal-judicial assistance, showcasing their collaborative efforts in fighting global crime.
The asset-sharing agreement not only strengthens legal cooperation between the U.S. and Taiwan but also reinforces their shared commitment to addressing transnational criminal activities effectively. The return of these assets not only provides a significant financial boost to Taiwan’s efforts in tackling drug trafficking but also sets a precedent for future collaborations between the two countries.