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Law Name:Directions Governing Anti-Money Laundering and Countering the Financing of Terrorism for Jewelry Retail BusinessesCH


Amended and promulgated by Order Ching Shang Tze No. 10002431040 on November 10, 2011.
Amended by Order Ching Shang Tze No. 10602414130 on July 3, 2017.

Law Content:

1.These directions are duly enacted in accordance with paragraph 2 of Article 6 of the Money Laundering Control Act for the purposes of preventing money laundering activities and combatting the financing of terrorism.


2.Operation and internal control procedures of anti-money laundering and countering the financing of terrorism are listed as below:

(1)A jewelry retail business shall, through its responsible person, monitor and oversee implementation of these directions.

(2)A jewelry retail business shall, in accordance with Article 3 and Article 4 of the Money Laundering Control Act, conduct customer due diligence measures for verifying the identity of the customer and keep the original identity information of the customer and transaction records.

(3)A jewelry retail business shall, in accordance with Article 5 to Article 8 of the Money Laundering Control Act, report a large-amount currency transaction and a suspicious money laundering transaction to the Investigation Bureau, Ministry of Justice.

(4)A jewelry retail business shall verify whether the customer and his or her beneficiary are targets of sanctions announced by Ministry of Justice in accordance with the Terrorist Financing Suppression Act, and report confirmed targets to the Investigation Bureau, Ministry of Justice.

(5)For information related to required declaration, the personnel in charge shall keep all the information in confidence and shall not disclose the content arbitrarily. In a case of disclosure of secrecy, such personnel shall receive a penalty pursuant to the relevant requirements.


3.Education and training programs of anti-money laundering and countering terrorism financing shall proceed as below:

(1)The responsible persons of the jewelry retail businesses shall participate in the Money Laundering Control Education & Training Programs, held by the government, jewelers commercial association, related legal person, or group, at least once every 2 years. The jewelry retail businesses shall engage all new employees in apprentice (On-the-job) training programs of the Anti-Money Laundering and Countering the financing of terrorism for being familiar with the requirements and responsibilities concerned.

(2)Education and training programs of the anti-money laundering and countering the financing of terrorism may be arranged in consolidation with other professional training programs.


4.Business reviews and inspection of the anti-money laundering and countering the financing of terrorism are as below:

(1)The publicity and propaganda programs of the affairs of Anti-Money Laundering and Countering the Financing of Terrorism shall be assessed and updated by Jewelry’s & Gold Association of the Republic of China at the end of each year and shall be submitted to the Ministry of Economic Affairs for reference.

(2)The Ministry of Economic Affairs shall assign inspection officers, accompanied by local jewelers commercial association if needed, to inspect and review the operation and internal control procedures of anti-money laundering and countering the financing of terrorism conducted by Jewelry Retail Business every year.

(3)In accordance with paragraph 3 of Article 6 of the Money Laundering Control Act, the Ministry of Economic Affairs shall also entrust other institutions, legal person, or group to conduct the inspection and review activity mentioned in the preceding paragraph.

(4)For any jewelry retail business avoiding, rejecting, or obstructing the inspection and review prescribed in the preceding two paragraphs, the Ministry of Economic Affairs will adopt the relevant measures in accordance with paragraph 4 of Article 6 of the Money Laundering Control Act.