Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)

Chapter 4 : Compliance and Enforcement

47. Failure to keep records
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An accountable institution that fails to—

(a)keep a record of information in terms of section 22(1), or 22A(1) or (2);
(b)keep such records in accordance with section 23 or 24(1); or
(c)comply with the provisions of section 24(3),

is non-compliant and is subject to an administrative sanction.

 

[Section 47 substituted by section 36 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]