Regulations Governing Anti-Money Laundering and Counter-Terrorism Financing for Land Administration Agents and Real Estate Brokerages Article 16

Land administration agents and real estate brokerages shall, within ten working days from the day when any of the conditions set forth in the preceding article is discovered, submit by mail, fax, e-mail, or other means a completed reporting form designated by the Investigation Bureau and affixed with the signature or seal of the land administration agents or the seal of the real estate brokerages, together with relevant supporting documents, to the Investigation Bureau. The same provisions shall also apply when real estate transactions are not completed.For significant suspicious money laundering or terrorism financing activities or suspicious money laundering or terrorism financing activities of urgent nature, land administration agents and real estate brokerages shall immediately submit a reporting form, as required in the preceding paragraph, by fax or other means.Land administration agents and real estate brokerages shall retain the reporting records set forth in the preceding two paragraphs for a period of at least five years from the date of reporting.