| (1) | Where a holder of a title deed who has been notified of matters regarding measures to suspend payment under Article 4 (2) or has been subject to measures to suspend payment under Article 4 (1) verifies any of the following facts, the Financial Supervisory Service shall designate the relevant holder of the title as a person for whom electronic financial transactions are restricted (hereafter referred to as "person subject to restriction of electronic financial transactions" in this Article): <Amended on Jan. 27, 2016; May 19, 2020> |
| 1. | A person who transfers or lends an access medium while falling under any of Article 49 (4) 1 through 3 of the Electronic Financial Transactions Act (limited to cases involving telecommunications-based financial fraud or when it is confirmed that three years have not elapsed since the date of being sentenced to a fine or five years has not elapsed since the date of being sentenced to imprisonment (including suspension of execution) as a pledge to the access medium; |
| 2. | Where three years have not passed since he/she was sentenced to punishment by a fine or imprisonment with labor (including suspension of execution), as a person who provided information on an account with the relevant person under Article 49 (4) 5 of the Electronic Financial Transactions Act (limited to cases related to telecommunications-based financial fraud), or was sentenced to such imprisonment with labor; |
| 3. | Where it is confirmed that three years have not passed since he/she was sentenced to a fine for committing an offense for telecommunications-based financial fraud or five years have not passed since he/she was sentenced to imprisonment with labor (including suspension of execution). |
| (2) | When the Financial Supervisory Service has designated an account holder as a person subject to restriction of electronic financial transactions under paragraph (1), it shall notify the financial company and the account holder thereof without delay: Provided, That where the whereabouts of the account holder are unknown, notice to the account holder shall be deemed made in lieu of the public announcement referred to in Article 5 (2). |
| (3) | No financial company shall settle electronic financial transactions of persons subject to restriction of electronic financial transactions, who is notified of under paragraph (2). |
| (4) | Where a person designated as a person subject to restriction of electronic financial transactions under paragraph (1) is released from such restriction under Article 8 (1), the Financial Supervisory Service shall cancel the designation as being subject to restriction of electronic financial transactions and notify financial companies and the account holder thereof. |
[This Article Added on Jan. 28, 2014]