Section 38, Terrorism Act, 2012

(1) Subject to subsection (3), any person whose usualbusiness is to undertake over-the-counter exchange transactions shall– (a) before the commencement of business, submit a declaration of activity to the Unit the purpose of obtaining the requisite operating licence in which he shall furnish proof of the lawful origin of the capital required to set up the business; (b) prior to any transaction involving a sum exceeding ten million leones identify the customer by requiring him to fill a standard data form and present his unexpired international passport, driver licence, national identity document or such other official document bearing his photograph as may be prescribed, a copy of which shall be taken; (c) record, in chronological order, all transactions under this section, indicating each customer’s surname, forename, and address and the number of the official document submitted, in a register numbered and initialled by an officer authorized by the person referred to in subsection (1). (2) A register kept under paragraph (c) of subsection (1) shall be preserved for at least five years after the last transaction recorded in it. (3) For the purpose of this section, an over-the-counter exchange transaction is constituted by the immediate exchange of bank notes or coins in different currencies or the handing over of cash against settlement by a different means of payment in a different currency. (4) Any person who contravene subsection (1) or (2)