Anti-Money Laundering Act, 2008 (Act 749)

Section 23(1): An accountable institution that establishes a business relationship with a person shall keep records of (a) the identity of the person or the agent of the person; (b) transaction made through the accountable institution, and (c) suspicious transactions reports made to the Centre.Section 23(3): This section applies to each single transaction with an accountable institution.Section 24(1): An accountable institution shall keep the records for(a) not less than six years after the date on which a relationship is terminated in case of a business relationship, or (b) not less than six years after the date a transaction is concluded.Section 24(2): An accountable institution may appoint a person to keep records on behalf of the accountable institution.Section 24(3): An accountable institution that appoints a person to keep records on its behalf shall inform the Centre of the appointment in writing.Section 24(4): At the end of the six year period, the account the institution shall send the records to the Public Records and Archives Administration Department.

Procedures to Follow

Not Avaiable

Responsible Institution

Bank of Ghana

Accra Central

Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable