Regulations Governing Internal Audit and Internal Control System of Anti-Money Laundering and Countering Terrorism Financing of Banking Business and Other Financial Institutions Designated by the Financial Supervisory Commission Article 10

For the implementation of internal audit and internal control system of AML/CFT of a banking business and other financial institutions designated by the FSC, the FSC may, at any time, appoint a designee, or entrust an appropriate institution to conduct an inspection using risk-based approach. The inspection includes on-site and off-site inspections.When the FSC or the entrusted institution conducts the inspection in the preceding Paragraph, the banking business and other financial institutions designated by the FSC shall provide the relevant books, documents, electronic data files or other relevant materials. The aforementioned materials, whether stored in hard copy, electronic file, e-mail or any other form, shall be provided, and the banking business and other financial institutions designated by the FSC shall not circumvent, reject or obstruct the inspection for any reason.