Anti-Money Laundering and Countering Financing of Terrorism Act 2009

If you need more information about this Act, please contact the administering agency: Ministry of Justice

Subpart 3—Record keeping

49 Obligation to keep transaction records


In relation to every transaction that is conducted through a reporting entity, the reporting entity must keep those records that are reasonably necessary to enable that transaction to be readily reconstructed at any time.


Without limiting subsection (1), records must contain the following information:


the nature of the transaction:


the amount of the transaction and the currency in which it was denominated:


the date on which the transaction was conducted:


the parties to the transaction:


if applicable, the facility through which the transaction was conducted, and any other facilities (whether or not provided by the reporting entity) directly involved in the transaction:


the name of the officer or employee or agent of the reporting entity who handled the transaction, if that officer, employee, or agent—


has face-to-face dealings in respect of the transaction with any of the parties to the transaction; and


has formed a suspicion (of the kind referred to in paragraph (b) of the definition of suspicious activity in section 39A) about the transaction:


any other information prescribed by regulations.


A reporting entity must retain the records kept by that reporting entity, in accordance with this section, in relation to a transaction for—


a period of at least 5 years after the completion of that transaction; or


any longer period that the AML/CFT supervisor for the reporting entity, or the Commissioner, specifies.

Compare: 1996 No 9 s 29

Section 49(2)(f)(ii): amended, on 30 November 2022, by section 12 of the Statutes Amendment Act 2022 (2022 No 75).