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Financial Supervisory Commission
Laws and Regulations Retrieving System

Print Time:113.05.19 03:55

Content

Title: Directions for Confirming Customer Identity in Domestic Remittance Operations of Financial Institutions Ch
Date: 2009.03.05
Legislative: 1. Promulgated on 12 July 2006 per Order No. Jin-Kuan-Yin-(II)-09520004872
2. Amended on January 23, 2007
3. Amended on March 5, 2009
Content:

Article 1
These Principles are specifically adopted to make money laundering control operations more rigorous and combat crime, and to induce remittance customers to leave their data on file, to assist financial institutions in knowing their customers.

Article 2
In these Principles, "financial institution" means any domestic bank, Taiwan branch of a foreign bank, credit cooperative, and the Chunghwa Post Co., Ltd.

Article 3
A financial institution that performs a domestic cash remittance of NT$30,000 or more but less than NT$500,000, or a domestic account-transfer remittance of NT$30,000 or more, shall do so in compliance with these Principles.

Article 4
When a financial institution handles over-the-counter domestic remittances, it shall retain the remitter's full name, national identity card number (or uniform invoice number), and phone number (or address). If the remitter is a juristic person, sole proprietorship, organization, or partnership enterprise, it shall take down the name, government unified invoice number, and phone number (or address) thereof. If the remittance is handled by an agent, it shall note the agent's name and national identity card number (or uniform invoice number) on the remittance application form.

Article 5
A financial institution shall require the remitter to present documentary proof of identity, and check that the remitter's identity is consistent with the information on the remittance application form, provided that these requirements shall not apply under the circumstances listed below:  
(1) If the remitter is the principal, and is also a customer known to that financial institution, and has an identity data record on file at that financial institution, the remitter may be exempted from presenting documentary proof of identity. The financial institution can check the information filled out on the remittance application form based on the identity record on file.
(2) If a remittance is handled by an agent, it is necessary only to check the identity of the agent. If the agent is a customer known to the financial institution, and has an identity data record on file at that financial institution, the agent may be exempted from presenting documentary proof of identity. The financial institution can check the information filled out on the remittance application form based on the identity record on file.

Article 6
When a financial institution handles a remittance, the relevant procedures and documents required for checking and confirming customer identity shall be handled in accordance with the rules adopted by the Bankers Association of the Republic of China.

Data Source:Financial Supervisory Commission Laws and Regulations Retrieving System