Regulations Governing Internal Audit and Internal Control System of Anti-Money Laundering and Countering Terrorism Financing of Financial Leasing Enterprises Article 6

A financial leasing enterprise shall establish screening procedures to ensure high standards when hiring employees, including examining whether the prospective employee has character integrity and the professional knowledge required to perform its duty.The AML/CFT compliance officer of a financial leasing enterprise shall possess one of the following qualification requirements in three (3) months after appointment/assignment to the position and the enterprise shall set out relevant control mechanism to ensure compliance with the provisions hereof:1. Having served as a legal compliance officer staffed under other laws and regulations, or an AML/CFT compliance officer on a full-time basis for at least three (3) years;2.Having attended at least 24 hours of courses offered by institutions recognized by the FSC, passed the exams, and received completion certificates therefor; or3. Having received an AML/CFT professional certificate issued by an international or a domestic institution recognized by the FSC.The AML/CFT compliance officer mentioned in the preceding paragraph shall annually attend at least 12 hours of training on AML/CFT. The training shall cover at least newly amended laws and regulations, trends and typologies of ML/TF risks. If the person has obtained an AML/CFT professional certificate issued by an international or a domestic institution recognized by the FSC in a year, the certificate may be used to substitute the training hours for the year.A financial leasing enterprise shall annually arrange appropriate hours and contents of orientation and on-the-job training on AML/CFT for its directors, supervisors, president, legal compliance personnel, internal auditors, and business personnel in view of the nature of its business, to familiarize them with their AML/CFT duties and equip them with the professional knowhow to perform their duties.