Section 30, Terrorism Act, 2012

(1) A reporting entity shall establish and maintain allbooks and records with respect to their customers and transactions as provided in subsection (2), and shall ensure that the records and the underlying information are available on a timely basis to the Unit as well as other competent authorities and supervisory authorities. (2) The books and records shall, at a minimum, include– (a) account files, business correspondence and copies of documents evidencing the identities of customers and beneficial owners obtained in accordance with this Act, all of which shall be maintained for not less than five years from the date on which the occasional transaction is completed or the business relationship ends; Inability to fulfill customer due diligence and customer obligations. Recordkeeping requirements. 38 39 (b) records on transactions sufficient to reconstruct each individual transaction for both account holders and non-account holders which shall be maintained for not less than five years from the date on which the transaction is completed or the business relationship ends; (c) the findings set out in writing pursuant to requirements concerning transactions which involve unusual transaction patterns or transactions which are unusually large or complex, and related transaction information which shall be maintained for at least five years from the date of the transaction; and (d) copies of all suspicious transaction reports, including any accompanying documentation, which shall be maintained for at least five years from the date the report is made. (3) The records established and maintained for the purposes of subsection (1) shall be– (a) sufficient to enable the transaction to be readily reconstructed at any time by the Unit or competent authority to provide, if necessary, evidence for prosecution of any offence; (b) maintained in a manner and form that will enable the reporting entity to comply immediately with requests for information from the competent authority, appropriate law enforcement body or the Unit. (4) Reporting entities which are required to maintain an internal list of cash transactions on currency exchange and money transmission in the amount of three million Leones or more or its equivalent in foreign currency, shall maintain the list for at least five years after the last transaction recorded in it. (5) Where a record is required to be kept under this Act, a copy of it, with the appropriate back-up and recovery procedures, shall be kept– (a) in a machine-readable form, if a paper copy can be readily produced from it; or (b) in an electronic form, if a paper copy can be readily produced from it and in a manner that enables appropriate authentication, for example, by the electronic signature of the person who keeps the record to be retained.