Regulations Governing Anti-Money Laundering of Financial Institutions Article 12

A financial institution shall keep records on all business relations and transactions with its customers in hard copy or electronical form and in accordance with the following provisions:1. A financial institution shall maintain all necessary records on domestic and international transactions for at least five years or a longer period as otherwise required by law.2. A financial institution shall keep all the following information for at least five years or a longer period as otherwise required by law after the business relationship is ended, or after the date of the occasional transactions:(1) All records obtained through CDD measures, such as copies or records of passports, identity cards, driving licenses or other similar official identification documents.(2) Account files (including e-payment accounts and the accounts of electronic stored value card holders) or contract files.(3) Business correspondence, including information on the background and purpose obtained from inquiries to complex, unusual large transactions and the results of any analysis undertaken.3. Transaction records maintained by a financial institution must be sufficient to reconstruct individual transactions so as to provide, if necessary, evidence of criminal activity.4. A financial institution shall ensure that transaction records and CDD information will be available swiftly to the competent authorities when such requests are made with appropriate authority.