Customer Due Diligence

    Customer Due Diligence, CDD

Customer Due Diligence (CDD) refers to identifying the customer and verifying the customer’s identity as well as obtaining information on the purpose and intended nature of the business relationship and identifying the beneficial owner pursuant to relevant laws and regulations for a financial institution to guard against the dangers of money laundering and other financial crimes in providing products and services for customers.

    Enhanced Due Diligence, EDD

Where a customer poses a higher risk of money laundering risk, Actual party in a financial transaction, Transaction purpose, Other required to meet related laws and regulations shall be identified.

    Refusal/Termination of transactions where client refuses to provide the client identification information

Where the customer refuses to provide the customer identification information or it is impossible for us to verify customer’s identification, we may refuse to begin transactions with customer, such as opening an account, and where it has already established transaction relations.

※ Relevant laws and regulations

「ACT ON REPORTING AND USING SPECIFIED FINANCIAL TRANSACTION INFORMATION」Article 5-2

「ACT ON PROHIBITION AGAINST THE FINANCING OF TERRORISM AND PROLIFERATION OF WEAPONS OF MASS DESTRUCTION」

「ACT ON REGULATION AND PUNISHMENT OF CRIMINAL PROCEEDS CONCEALMENT」