Regulations Governing Anti-Money Laundering and Counter-Terrorist Financing for Certified Public Bookkeepers and Bookkeeping and Tax Return Filing Agents Article 7

A certified public bookkeeper or bookkeeping and tax return filing agent shall conduct ongoing due diligence on the business relationship and observe the following provisions:1. A certified public bookkeeper or bookkeeping and tax return filing agent shall scrutinize transactions undertaken throughout the business relationship to ensure that the transactions being conducted are consistent with the certified public bookkeeper's or bookkeeping and tax return filing agent's knowledge of the customer, its business and risk profile, including, where necessary, the source of funds.2. A certified public bookkeeper or bookkeeping and tax return filing agent shall periodically review the existing records to ensure that documents, data, or information of the customer and its beneficial owner(s) collected under the customer due diligence process are kept up-to-date.3. A certified public bookkeeper or bookkeeping and tax return filing agent shall apply customer due diligence requirements to existing customers on the basis of materiality and risk, and after taking into account whether and when customer due diligence measures have previously been undertaken and the adequacy of data obtained, conduct due diligence on such existing relationships at appropriate times, including when learning of any material change to the customer's identity and background information.4. A certified public bookkeeper or bookkeeping and tax return filing agent may rely on existing customer records to undertake identification and verification. Therefore, a certified public bookkeeper or bookkeeping and tax return filing agent is allowed to carry out transactions without repeatedly identifying and verifying the identity of an existing customer. However, a certified public bookkeeper or bookkeeping and tax return filing agent shall conduct customer due diligence measures again in accordance with Article 3 herein if he or she has doubts about the veracity or adequacy of the records, such as, where there is a suspicion of money laundering in relation to that customer, or where there is a material change in the way that the customer's transactions or accounts are operated, which is not consistent with the customer's business profile.”The obligations to undertake customer due diligence measures of customer identity are terminated when the business relationship comes to an end.