Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)Chapter 3 : Control Measures for Money Laundering and Financing of Terrorist and Related Activities - Money Laundering, Financing of Terrorist and Related Activities and Financial Sanctions Control MeasuresPart 2 : Duty to keep record22A. Obligation to keep transaction records |
| (1) | An accountable institution must keep a record of every transaction, whether the transaction is a single transaction or concluded in the course of a business relationship which that accountable institution has with the client, that are reasonably necessary to enable that transaction to be readily reconstructed. |
| (2) | Without limiting subsection (1), records must reflect the following information: |
| (a) | The amount involved and the currency in which it was denominated; |
| (b) | the date on which the transaction was concluded; |
| (c) | the parties to the transaction; |
| (d) | the nature of the transaction; |
| (e) | business correspondence; and |
| (f) | if an accountable institution provides account facilities to its clients, the identifying particulars of all accounts and the account files at the accountable institution that are related to the transaction. |
[Section 22A inserted by section 12 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]