Rules Governing the Administration of Electronic Payment Business Article 48

Electronic payment institutions shall file periodic reports on their electronic payment business with JCIC.JCIC will determine the scope of information to be reported and inquired by electronic payment institutions and rules for the filing and inquiry operations, fee schedule, operations management, data disclosure deadline, information security management, and audit procedures, and submit same to the competent authority for approval.JCIC's activities of collecting, processing or using information reported by electronic payment institutions according to Paragraph 1 hereof are considered necessary for fulfillment of the legal obligation provided under Subparagraph 2, Paragraph 2, Article 8 of the Personal Information Protection Act and hence are exempted from giving notice provided under Paragraph 1, Article 9 of the Personal Information Protection Act.Electronic payment institutions shall ensure the information reported and disclosed according to Paragraph 1 hereof is accurate and free of false statement or representation.