Article 4 of Anti-Money Laundering Law

Financial institutions and designated non-financial businesses and professions must assess the related money laundering and terrorist financing risks, including those relating to the development of new products and technologies. They must also retain the risk assessment study and related information in writing, update them periodically, and make them available to supervisory authorities upon request. Financial institutions and designated non-financial businesses and professions must apply enhanced due diligence measures when money laundering and terrorist financing risks are considered high. Financial institutions and designated non-financial businesses and professions may apply simplified due diligence measures when money laundering and terrorist financing risks are considered low. Simplified measures may not be applied where money laundering or terrorist financing operations are suspected.