Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001 s 17
s 17 Retention of records
(1) Notwithstanding any provision of any written law pertaining to the retention of documents, a reporting institution shall maintain any record under this Part for a period of not less than six years from the date an account has been closed or the transaction has been completed or terminated.
(2) A reporting institution shall also maintain records to enable the reconstruction of any transaction in excess of such amount as the competent authority may specify, for a period of not less than six years from the date the transaction has been completed or terminated.
(3) Subsections (1) and (2) will not apply where a reporting institution has transmitted the record to the competent authority or an enforcement agency.
(4) Any reporting institution which contravenes subsection (1) or (2) commits an offence and shall on conviction be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding one year or to both.
Malay text (authoritative)
Penyimpanan rekod
(1) Walau apa pun apa-apa peruntukan mana-mana undangundang bertulis berkaitan dengan penyimpanan rekod, sesuatu institusi pelapor hendaklah menyenggara mana-mana rekod di bawah Bahagian ini selama tempoh yang tidak kurang daripada enam tahun dari tarikh akaun itu telah ditutup atau transaksi itu telah disempurnakan atau dihentikan.
(2) Sesuatu institusi pelapor hendaklah menyenggara rekod bagi membolehkan pembentukan semula apa-apa transaksi yang melebihi apa-apa amaun yang ditentukan oleh pihak berkuasa berwibawa, selama tempoh yang tidak kurang daripada enam tahun dari tarikh transaksi itu disempurnakan atau dibatalkan.
(3) Subseksyen (1) dan (2) tidak terpakai jika sesuatu institusi pelapor telah menghantar rekod itu kepada pihak berkuasa berwibawa atau suatu agensi penguat kuasa.
(4) Mana-mana institusi pelapor yang melanggar subseksyen
(1) atau (2) melakukan suatu kesalahan dan apabila disabitkan boleh didenda tidak melebihi satu juta ringgit atau dipenjarakan selama tempoh tidak melebihi satu tahun atau kedua-duanya.
Read this section in the full act β Β· Open Part IV β
Find Act 613 on lom.agc.gov.my β
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
