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

Chapter 3 : Money Laundering, Financing of Terrorist and Related Activities and Financial Sanctions Control Measures

Part 2 : Duty to keep record

23. Period for which records must be kept

 

An accountable institution must keep the records which relate to—

(a) the establishment of a business relationship referred to in section 22, for at least five years from the date on which the business relationship is terminated;
(b) a transaction referred to in section 22A which is concluded, for at least five years from the date on which that transaction is concluded; and
(c) a transaction or activity which gave rise to a report contemplated in section 29, for at least five years from the date on which the report was submitted to the Centre.

 

[Section 23 substituted by section 13 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]