Regulations Governing Anti-Money Laundering and Counter-Terrorism Financing for Land Administration Agents and Real Estate Brokerages Article 10

For customers with whom a business relationship has been established, land administration agents and real estate brokerages shall conduct ongoing customer due diligence based on the following principles:1. They shall scrutinize the transactions conducted by customers and ensure that the transactions are consistent with the nature of customers’ business and their money laundering and terrorism financing risk profile. They shall also investigate the sources of their funds if necessary.2. They shall review, on a regular basis, whether the identification information about customers and beneficial owners is sufficient.3. They shall conduct due diligence on existing customers again on the basis of materiality, risk, and results of the previous due diligence task. This principle shall also apply when they learn about any material change in customers’ identity and background information.4. If they have doubts about the veracity of customers’ information, suspect that customers are involved in money laundering or terrorism financing, or observe an unusual, material change in the way that customers conduct transactions, they shall verify the identity of customers again in accordance with Article 8.