Regulations on Anti-Money Laundering & Countering the Financing of Terrorism Operations Matters Conducted by Attorneys Article 7

In respect of the politically exposed persons (PEPs) and their family members and close associates as defined in Paragraph 3 of Article 8 of the Act, by applying a risk-based approach, if he/she is assessed as high-risk according to provisions in Paragraph 2 of Article 4, the attorney shall verify the client’s identity and conduct EDD procedures as follows:1. Shall obtain the consent of the leading attorney or the attorney in charge of operation/management of a law firm or a dedicated person designated by him/her while establishing the attorney-client relationship.2. Understand the purpose of retained matter and the ways of acquiring funds.3. Pay constant attention to any situation that should be reported according to Article 10 during the attorney-client relationship.