| Chapter 3 Recordkeeping and Notification of Data Transactions and Account Management |
Section 1 Deposit Accounts |
| Article 15 |
When deposit business institutions 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 account holder.
2. Contract files.
3. All abnormal transaction records of deposit accounts suspected of fraud.
4. Data and records obtained from peer notifications regarding abnormal deposit accounts suspected of fraud, in accordance with the regulations in Chapter 2.
The abnormal transaction records of electronic deposit accounts 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 serve as evidence for identifying illegal activity. |
| Article 16 |
Where a deposit account is deemed as an abnormal deposit account suspected of fraud, the deposit business institution shall take the following response measures:
It shall strengthen the CDD measures for the account holder in accordance with the second half of Paragraph 1, Article 8 of the Act. It may adopt control measures such as continual review, suspension of deposits or withdrawals, suspension of outward remittance of funds, suspension of all or certain transaction functions, and refusal to establish a business relationship or to provide services, and may report to the judicial police authority.
If a virtual account is watch-listed, the deposit business institution shall suspend all transaction functions of the virtual account and earmark an amount in the deposit account that corresponds to the amount in the virtual account. Subsequent inward remittances of the virtual account shall be returned to the deposit business institution or electronic payment institution that conducted the remittance by refunds. If there is no outward remittance account corresponding to the virtual account to which the remittance can be returned, the deposit business institution shall earmark the amount in the virtual account. The deposit business institution shall immediately notify the account holder to take relevant control measures with regard to the user of the virtual account.
Measures to be taken in accordance with the Money Laundering Control Act and other applicable laws and regulations.
When a deposit business institution notifies the judicial police 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 deposit accounts suspected of fraud, the identity of the account holder, relevant transaction records, or other documents required to be provided under the notification method based on the request. |
| Article 17 |
After receiving a report from the deposit business institution, the judicial police authority shall notify the deposit business institution in writing letter within 20 days regarding the subsequent measures for account monitoring or the release of the abnormal deposit accounts involved in fraud. If the judicial police authority fails to notify the deposit business institution within this period, the deposit business institution may continue to apply measures.
In case of major contingencies, the judicial police authority may send the notification in the preceding paragraph to the deposit business institution by telephone, fax, email, or other feasible means, followed by a confirming official letter and documents which should be delivered within five business days. |