Cablegate: Terrorism Finance: U.S. Designation of Union of Good

VZCZCXYZ0000
RR RUEHWEB

DE RUEHIN #1776 3590551
ZNR UUUUU ZZH
R 240551Z DEC 08
FM AIT TAIPEI
TO RUEHC/SECSTATE WASHDC 0622
RUEATRS/DEPT OF TREASURY WASHDC
RUCNDT/USMISSION USUN NEW YORK 0099

UNCLAS AIT TAIPEI 001776

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 KWBG KPAL UNSC ECON
IS, SA, WE, GZ, TW
SUBJECT: TERRORISM FINANCE: U.S. DESIGNATION OF UNION OF GOOD

REF: STATE 127070

1. (U) Per reftel, Taiwan's Financial Supervisory Commission (FSC)
issued a formal instruction on December 22, 2008, providing all
banking institutions with information on the U.S. Department of the
Treasury's designation of the Union of Good, a Saudi Arabia-based
organization, as a supporter of terrorism 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 October 3, 2008 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
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