Section 55, Terrorism Act, 2012

(1) A reporting entity or person who intentionally or bygross negligence and without reasonable excuse– (a) fails to undertake the identification of customers or otherwise to fulfill the customerdue-diligence, customer identification and risk management requirements in accordance with this Act; (b) opens, operates or authorizes the opening or the operation of an account with a reporting entity in a fictitious, false or incorrect name in violation of this Act; or Power to enforce Mechanism to maintain beneficial ownership comply with requirements. 58 59 (c) fails to fulfill the obligations relating to obtaining information for and processing of a wire transfer as required by this Act, Le10,000,000.00 or to a term of imprisonment not less than two years or to both the fine and imprisonment.