Common use of Verification of Customer Identity Clause in Contracts

Verification of Customer Identity. 4.1 At the time of opening the Deposit Account and on a regular basis thereafter, the Bank will verify the Customer’s identity in accordance with all relevant Japanese and foreign laws and regulations including the Act on Prevention of Transfer of Criminal Proceeds, and requests by public organisations such as national governments, in view of the international initiatives for the prevention of financial crimes such as money laundering and financing of terrorist activities. 4.2 In the event of being unable to complete the verification of the Customer’s identity as stipulated in Article 4.1 (including any additional verification of the Customer’s identity which the Bank may need after the opening of the Deposit Account), the Bank may restrict or suspend any or all transactions under the Deposit Account, or, after serving the notice on the Customer, terminate the Deposit Account, even if transactions have been commenced.