4.Authorized banks and post offices under the Chunghwa Post Co. Ltd. shall act
in accordance with the Money Laundering Control Act, Terrorism Financing
Prevention Act and relevant regulations and, in addition, abide by the
following provisions when performing domestic and cross-border outward and
inward remittance businesses except the transfer of funds and settlement
between a financial institution and another financial institution where both
institutions are acting on their own behalf:
(1) Outward Remittance Business:
i. Documents required: Operate in accordance with relevant documents filled
out by the customer and inspect ID documents or basic registered
information. In the case of a company, limited partnership or firm, query
the “company registration inquiry” section, "limited partnership
registration inquiry” section or “business registration inquiry” section
on the Commerce Industrial Services Portal of the Ministry of Economic
Affairs to confirm the basic registered information of the company, limited
partnership or firm. Banking enterprises conducting the outward remittance
business involving the foreign exchange settlement against NTD with the
value equal to or over an equivalent of NTD 500,000 shall comply with the
Regulations Governing the Declaration of Foreign Exchange Receipts and
Disbursements or Transactions (hereinafter referred to as Regulations for
Declaration) and Directions for Banking Enterprises while Assisting
Customers to Declare Foreign Exchange Receipts and Disbursements or
Transactions (hereinafter referred to as Directions for Declaration) and
assist the declarant to make a detailed and accurate declaration.
ii. Certificates issued: A foreign exchange sale memo shall be issued when the
foreign exchange is purchased with NTD. Other transaction certificates
shall be issued when the foreign exchange is not purchased with NTD.
iii. Delivering wire transfers: Wire transfer remittances shall include the
required and accurate information of the originator and the required
information of the beneficiary.
iv. Providing information: Upon receiving a request from the Bank or the
beneficiary bank, provide the originator and beneficiary information
available within three (3) business days. However when a prosecutors office
or judicial police office requests the immediate provision of relevant
information, respond accordingly.
(2) Inward Remittance Business:
i. Documents required: Operate in accordance with the inward remittance
notices, foreign currency notes, or foreign currency banknotes, and inspect
ID documents or basic registered information. In the case of a company,
limited partnership or a firm, query the “company registration inquiry”
section, "limited partnership registration inquiry” section or “business
registration inquiry” section on the Commerce Industrial Services Portal
of the Ministry of Economic Affairs to confirm the basic registered
information of the company, limited partnership or firm. Banking
enterprises conducting inward remittance businesses involving the foreign
exchange settlement against NTD with the value equal to or over an
equivalent of NTD 500,000 shall comply with the Regulations for Declaration
and Directions for Declaration, and assist the declarant to make a detailed
and accurate declaration.
ii. Certificates issued: A foreign exchange purchase memo shall be issued when
the foreign exchange is sold for NTD. Other transaction certificates shall
be issued when foreign exchange is not sold for NTD.
iii. Take the following risk control measures：
(i) Take reasonable measures, including post-event monitoring or real-time
monitoring where feasible, to identify wire transfers that lack the
required originator or beneficiary information.
(ii) Implement risk-based policies and procedures to determine when to execute,
reject, or suspend a wire transfer lacking the required originator or
beneficiary information and implement an appropriate follow-up action
where the originator or beneficiary information is insufficient.
(3)Intermediary financial institution：
i. A financial institution that is an intermediary institution shall retain
all the wire transfer originator and beneficiary information accompanying
the wire transfer.
ii. Where technical limitations prevent the required information accompanying
a cross-border wire transfer from being imported to the corresponding
domestic wire transfer, according to the Money Laundering Control Act and
relevant regulations, the receiving intermediary financial institution
shall retain the records of all the information received from the ordering f
inancial institution or another intermediary financial institution.
iii. Items 3 of the preceding Subparagraph shall apply mutatis mutandis.
(4) Data reporting: A daily transaction report and relevant detailed information
shall be submitted to the Bank’s Foreign Exchange Data Processing System on
the next business day following each transaction day.
The term " originator and beneficiary information " referred to in Items 3 and
4, Subparagraph 1, and Items 3, Subparagraph 2, and Subparagraph 3 of the
preceding paragraph shall mean：
(1)Originator information：
i. Name.
ii. Account number. In the absence of an account, a unique transaction
reference number shall be included to facilitate the traceability of the
transaction.
iii. Address. The ordering bank could decide whether to replace address with
unified business number, national identification number, passport number,
resident certificate number, or date and place of birth.
(2)Beneficiary information：
i. Name.
ii. Account number. In the absence of an account, a unique transaction
reference number shall be included to facilitate the traceability of the
transaction.
