| Chapter 3 Recordkeeping and Notification of Data Transactions and Account Management |
Section 3 Credit Cards |
| Article 21 |
When card issuers implement measures in accordance with the second half of Paragraph 1, Article 8 of the Act, they shall retain the following information and transaction records in hard copy or electronic format:
1. All records obtained through CDD measures, such as copies or records of passports, identity cards, driving licenses or other similar official identification documents of the cardholder.
2. Contract files.
3. All abnormal transaction records of credit cards suspected of fraud.
4. Data and records obtained from peer notifications regarding abnormal credit cards suspected of fraud, in accordance with the regulations in Chapter 2.
The abnormal transaction records of credit cards suspected of being involved in fraud, as referred to in Subparagraph 3 of the preceding paragraph, shall be sufficient to reconstruct individual abnormal transactions and shall serve as evidence for identifying illegal activity. |
| Article 22 |
Where a credit card is deemed as an abnormal credit card suspected of fraud, the card issuer shall take the following response measures:
1. It shall strengthen the CDD measures for the customer in accordance with the second half of Paragraph 1, Article 8 of the Act. It may adopt control measures such as continual review, credit card management, suspension of credit card account transaction functions, and refusal to establish a business relationship or to provide services, and may report to the judicial police authority.
2. Measures to be taken in accordance with the Money Laundering Control Act and other applicable laws and regulations.
When a card issuer notifies the judicial police authority in accordance with the regulations in the preceding paragraph, it shall use the telephone, fax, email, electronic platform, or other feasible means. It shall also provide documents of abnormal credit cards suspected of fraud, the identity of the cardholder, relevant transaction records, or other documents required to be provided under the notification method based on the request. |
| Article 23 |
After receiving a report from the card issuer, the judicial police authority shall notify the card issuer with an official letter within 20 days to carry out subsequent measures for account monitoring or release of the abnormal credit cards suspected of fraud. The card issuer may continue monitoring if the notification to the card issuer is delayed.
In case of major contingencies, the judicial police authority may send the notification in the preceding paragraph to the card issuer by telephone, fax, email, or other feasible means, followed by a confirming official letter and documents which should be delivered within five business days. |