TAXES
LAW
3
Compliance
U
nder compliance aspects, electronic money operators
are required to apply risk management effectively and
consistently. Furthermore, they have to apply information
system security standards, to apply interconnection and
interoperability, to fulfill the obligation of processing electronic
money transactions domestically, to apply the principles of anti-
money laundering, prevention of terrorism financing and to apply
the principle of consumer protection.
In regard to the newly introduced Know-Your-Beneficial-
Owner-Principle, please note that the new regulation requires
the subsequent implication of the reporting of the Beneficial
Owner of a corporation to fulfill the compliance requirements.
Corporations not implementing the Know-Your-Beneficial-
Owner-Principle may be subject to sanctions in accordance with
the provisions of relevant laws and regulations.
Compliance Implications Concerning Electronic Money and
Know-Your-Beneficial-Owner-Principle
If you have any questions regarding your company’s compliance
in accordance with these new requirements, please do not
hesitate to contact us.
Dr. Jörg-Michael Scheil
Partner
+86 21 6219 8370
Schulz Noack Bärwinkel
Schulz Noack Bärwinkel (SNB) is a German law firm based in Hamburg,
which was established in 1929. Over the years we developed a strong
focus on the Asian markets, especially China, Vietnam and Indonesia.
Today SNB maintains offices in China and Southeast Asia with an
international team led by highly experienced German attorneys.
Through our partnership with a leading Indonesian commercial
and corporate law firm, we provide our clients with high quality legal
services. Our team consists of German-speaking attorneys with
substantial Asia experience and language skills, combined with a
thorough understanding of the Indonesian business environment.
Schulz Noack Bärwinkel
German Attorneys-at-Law
SITC, Suite 2302
2201 Yan An Road (West)
200336 Shanghai – China
Phone : +86 21 6219 8370
Fax
: +86 21 6219 6849
Email
:
Website :
