Regulations Governing Anti-Money Laundering and Counter-Terrorism Financing for Land Administration Agents and Real Estate Brokerages Article 8-1

In addition to verifying the identity of the customers in accordance with the provisions of the preceding article, land administration agents and real estate brokerages shall comply with the following provisions:1. Establishing policies and procedures for watch list filtering, based on a risk-based approach, to verify whether customers, beneficial owners or connected parties of the customers are individuals, legal persons or organizations sanctioned under the Terrorism Financing Prevention Act or terrorists or terrorist groups identified or investigated by a foreign government or an international organization;2. Shall document and maintain the records for a time period in accordance with Paragraph 6 of the preceding article.