Page:Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap. 615).pdf/137

Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance Schedule 2 Part 3 Part 3 Record-keeping Requirements 20. Duty to keep records

(1) A financial institution must—
 * (a) in relation to each transaction it carries out, keep the original or a copy of the documents, and a record of the data and information, obtained in connection with the transaction in accordance with Part 2 of this Schedule; and
 * (b) in relation to each of its customers, keep—
 * (i) the original or a copy of the documents, and a record of the data and information, obtained in the course of identifying and verifying the identity of the customer or any beneficial owner of the customer in accordance with Part 2 of this Schedule; and
 * (ii) the original or a copy of the files relating to the customer’s account and business correspondence with the customer and any beneficial owner of the customer.

(2) Records required to be kept under subsection (1)(a) must be kept for a period of 6 years beginning on the date on which the transaction is completed, regardless of whether the business relationship ends during that period.

(3) Records required to be kept under subsection (1)(b) must be kept throughout the continuance of the business relationship with the customer and for a period of 6 years beginning on the date on which the business relationship ends.