Singapore legislation
Clause 18
of Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Bill
Clause 18
Keeping of records
(1)
A regulated dealer must keep the following documents and information for such period as may be prescribed:
a record of every designated transaction (whether or not completed) and every other transaction for which the customer due diligence measures mentioned in section 16 must be performed, containing the prescribed information on that transaction;
a record of all information relating to a customer which is obtained through the customer due diligence measures performed under section 16;
a copy of each supporting document relied on in support of any information referred to in paragraph (b);
such other document and information as may be prescribed.
(2)
For the purposes of subsection (1), different periods may be prescribed for different regulated dealers or classes of regulated dealers, different types of designated transactions or different documents and information.
(3)
A regulated dealer must keep the documents and information mentioned in subsection (1) in such form as may be prescribed.
(4)
A regulated dealer must make the documents and information mentioned in subsection (1) available upon request to the Registrar in the manner prescribed.
(5)
A regulated dealer who contravenes subsection (1), (3) or (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.