ADVOKS GLOBAL · KENYA
Proceeds of Crime and Anti-Money Laundering Act
46. Obligation to establish and maintain customer records
Edition: 2025-11-04 · In force
46. Obligation to establish and maintain customer records
(1)Subject to subsection (4), a reporting institution shall establish and maintain—(a)records of all transactions, both domestic and international, in accordance with the requirements of subsection (3); and(b)where evidence of a person’s identity is obtained in accordance with section 45, a record that indicates the nature of the evidence obtained, and which comprises either a copy of the evidence or such information as would enable a copy of it to be obtained.(2)A reporting institution shall ensure that its customer accounts are kept in the correct name of the account holder.(3)Records required under subsection (1)(a) shall contain particulars sufficient to identify—(a)the name, physical and postal address and occupation (or where appropriate business or principal activity) of each person—(i)conducting the transaction; or(ii)on whose behalf the transaction is being conducted, as well as the method used by the reporting institution to verify the identity of that person;(b)the nature, time and date of the transaction;(c)the type and amount of currency involved;(d)the type and identifying number of any account with the reporting institution involved in the transaction;(e)if the transaction involves a negotiable instrument other than currency, the name of the drawer of the instrument, the name of the institution on which it was drawn, the name of the payee (if any), the amount and date of the instrument, the number (if any) of the instrument and details of any endorsements appearing on the instrument;(f)the name and address of the reporting institution and of the officer, employee or agent of the reporting institution who prepared the record.(4)The records required under subsection (1) shall be kept by the reporting institution for a period of at least seven years or such longer period as the Centre may in writing require, from the date the relevant business or transaction was completed or following the termination of an account or business relationship, without prejudice to any other records required to be kept by or under any other written law, and shall be made available on a timely basis to competent authorities.