Regulations Governing Anti-Money Laundering and Countering the Financing of Terrorism for Certified Public Accountants Article 12

When conducting CDD measures, a CPA shall query the customer and also use an external database or information obtained from external sources to determine whether a customer or its beneficial owner is a person who is or has been entrusted with a prominent function by a domestic government, a foreign government or an international organization (referred to as politically exposed persons (PEPs) hereunder):1. For a customer or the beneficial owner determined to be a current PEP of a domestic or foreign government or international organization, a CPA shall treat the customer directly as a high-risk customer, and adopt enhanced CDD measures under subparagraph 1, paragraph 1 of Article 10 herein.2. The preceding subparagraph also applies to family members and close associates of PEPs. The scope of family members and close associates mentioned above will be determined in the manner stipulated in the latter section of paragraph 4, Article 7 of the Act.The provisions of the preceding paragraph do not apply when the beneficial owner or senior managerial officer of a customer specified under sub-items a to c, and h, of item C, subparagraph 5 of Article 7 herein is a PEP.