Criminal Asset Recovery Order, 2012 · s 24

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s 24Failure to fulfill due diligence obligations or maintain internal controls

Any person who intentionally or negligently -

{a)

fails to conduct due diligence with respect to customers, accounts, and transactions as required by sections 5, 6, 7 and 13;

{b)

fails to comply with the obligations for special monitoring as required by sections 9 and 12; or

{c)

fails to maintain internal control programmes as required by sections 21 and 22, is guilty of an offence and liable on conviction to a fine not exceeding $1,000,000, imprisonment for a term not .exceeding one year or both, and, in the case of a continuing offence, to a further fine of $100,000 for every day during which the offence continues after conviction.