Taiwan FSC Warns Investors Against Unlicensed Offshore Finance

Offshore financial products are frequently marketed through social media, seminars and cross-border platforms, but foreign institutions without approval to establish a presence in Taiwan may not provide financial services in the domestic market. Investors who bypass licensed banks, brokerages or authorized distributors face product and currency risks as well as weaker access to Taiwan’s consumer-protection and dispute-resolution mechanisms if a transaction goes wrong.

Taiwan’s Financial Supervisory Commission reiterated on July 21, 2023, that domestic financial institutions must not assist, introduce or solicit business for unapproved foreign providers. Investors were urged to verify firms against the regulator’s published list of licensed institutions. Customers in disputes with a legal domestic provider may complain to the firm, seek judicial relief or, if they are not professional clients, apply to the Financial Ombudsman Institution. Suspected illegal sales can be reported with evidence to the FSC or law-enforcement authorities. No specific case or loss amount was disclosed.