4. Institutions to maintain and retain records

records of transactions and of correspondence relating to transactions and records of all reports furnished to the Financial Intelligence Unit for a period of six years from the date of the transaction, correspondence or the furnishing of the report, as the case may be ; and

records of identity obtained in terms of section 2 for a period of six years from the date of closure of the account or cessation of the business relationship, as the case may be, unless directions have been issued by the Financial

name, address and occupation (or where appropriate business or principal activity) of each person —

conducting the transaction ; and

where applicable, on whose behalf the transaction is being conducted ;

nature and date of the transaction ;

type and amount of currency involved ;

parties to the transaction ;

the name and address of the employee who prepares the record ; and

such other information as may be specified in rules issued by the Financial Intelligence Unit.

it shall be maintained in a manner and form that will enable an Institution to comply immediately with requests for information from the Financial

a copy of it may be kept—

in a machine-readable form if a paper copy can be readily produced from it ; or

in an electronic form, if a paper copy can be readily produced from it and an electronic signature of the person who keeps the records is retained for purposes of verification.