Fraud Crime Hazard Prevention Act Article 9

Financial institutions and businesses or personnel providing virtual asset services shall, while operating in accordance with the latter part of paragraph 1 of the preceding Act, keep the data and transaction records obtained via implementing customer verification procedures, which may be reported to the judiciary police department. After having received the report, the judiciary police department shall, within a reasonable period of time, notify financial institutions and businesses or personnel providing virtual asset services that they shall continue or lift control over the abnormal accounts, credit cards, or virtual asset accounts.The data and transaction records as prescribed in the preceding paragraph shall be kept for at least five years from the termination of their business relationships. However, if the laws requires that they shall be kept for a longer period, that requirement shall be observed.The competent financial authority shall consult with the central competent authority and competent legal affairs authority to establish the scope of the data and transaction records and the way and procedures to make a report to the judiciary police department, the regulations governing the continuation or lifting control over abnormal accounts, credit cards, or virtual asset accounts that are prescribed in the preceding paragraph, and other matters that shall be observed.The judiciary police department may, for the purpose of investigating fraud crimes, take the initiative to notify financial institutions and businesses or personnel providing virtual asset that they shall mark deposit accounts, electronic payment accounts, credit cards, or virtual asset accounts suspected of being involved in fraud crimes as a warning, and suspend all of their transaction functions.