Regulations Governing Anti-Money Laundering and Counter-Terrorism Financing for Land Administration Agents and Real Estate Brokerages Article 12

For the purpose of verifying the identity of customers, land administration agents and real estate brokerages shall undertake reasonable measures to identify the customer or beneficiary who has or had prominent public functions in a domestic or foreign government or international organization as well as individuals with a close relationship with the family members of such customer or beneficiary (hereinafter referred to as politically exposed persons), and shall perform enhanced customer due diligence measures in accordance with the preceding article.The preceding paragraph does not apply if the beneficial owners of those specified in Subparagraphs 1 and 2 of Paragraph 5 of Article 8 are politically exposed persons.