Verification at the Time of Transactions
In recent years, preventing money laundering and taking measures against terrorism funding has become increasingly important as a result of organized crimes such as illicit drug dealings being on the rise globally.
Money laundering means concealing the origin of money earned from criminal activities by depositing it in a financial account, purchasing financial products and moving the money from one account to another.
In light of such illegal activities, the Act on Preventing Transfer of Criminal Proceeds (hereinafter "The Prevention Act") was first implemented and its amendment on April 1, 2013, legally binds us to confirm before each transaction your occupation and purpose of transaction in addition to your identity (which was already required before the amendment).
The Prevention Act has a disclaimer clause that lets financial institutions postpone their obligations related to transactions whenever they unable to confirm the required details at transaction.
With the Prevention Act's amendment on April 1, 2013, Sony Bank shall confirm before each transaction your occupation and purpose of transaction besides the existing confirmation of your identification.
- To open an account, you are required to submit identification documents that show your name, address and date of birth as specified by Sony Bank. Without submission of such documents, you will not be able to open an account and conduct other transactions.
- The Prevention Act prohibits you from misrepresenting your identity such as by using another person's identification documents when opening an account.
- Sony Bank confirms your identification upon your receipt of the cash card we send. Therefore, if the cash card is undelivered and returned to us, we may suspend transactions with you. If you have any questions regarding undelivered cash card, please contact the English help desk and start required procedures.