Section 17: Other measures to combat money laundering
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
17. Other measures to combat money laundering
Without prejudice to section 3 (2), every bank, financial institution, cash
dealer or member of a relevant profession or occupation shall—
(a) verify, in such manner as may be prescribed, the true identity
of all customers and other persons with whom they conduct
transactions;
(b) keep such records, registers and documents as may be required
under this Act or by regulations;
(c) on a Court order, make available such records, registers and
documents as may be required by the order; and
(d) put in place appropriate screening procedures to ensure high
standards when recruiting employees.
[S. 17 amended by s. 15 (c) of Act 14 of 2009 w.e.f 30 July 2009; s. 11 (h) of Act 27 of
2012 w.e.f. 22 December 2012.]