Regulations Governing Anti-Money Laundering and Countering Terrorism Financing of Financial Technology Innovative Experimentation Article 14

An applicant shall file suspicious ML/TF transaction reports (STR) in accordance with following provisions:1.For a transaction that exhibits irregularities set out in Article 10, an applicant shall complete the review process to determine whether it is a suspicious transaction as quickly as possible and keep the records thereon.2.Where a review has resulted in a determination that the transaction is suspected of ML/TF, an applicant shall, regardless of the amount of the transaction, promptly file a STR with the Investigation Bureau in a format prescribed by the Bureau within two business days after the report has been approved by the responsible personnel. The same shall apply to attempted transactions.3.For obviously significant suspicious ML/TF transactions of urgent nature, an applicant should file a report as soon as possible to the Investigation Bureau by fax or other feasible means and follow it up with a written report. The applicant is not required to submit a follow-up written report, provided the Investigation Bureau has acknowledged the receipt of report by sending a reply by fax. In such event, the applicant shall retain the faxed reply.4.The format of STR and faxed reply mentioned in the preceding two subparagraphs shall be prescribed by the Investigation Bureau.5.The data reported to the Investigation Bureau and relevant transaction records shall be kept in accordance with Article 11.