Regulations Governing the Deposit Accounts and Suspicious or Unusual Transactions Article 12

Banks shall establish clear Know-Your-Customer policies and procedures, including standards for accepting customers’ applications to open deposit accounts, identification of customers, monitoring and control of deposit accounts and transactions, and necessary training, etc.Model examination procedures for processing deposit account opening applications under the preceding paragraph shall be promulgated by the Bankers Association of the Republic of China and reported to the competent authority for reference.