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  1. Point in time
    2005-10-20

CRED 12.7 Record keeping

CRED 12.7.1G

ML 7.3.2 R requires firms to make and keep for specified periods records in relation to evidence of identity; records of transactions with clients; records of internal and external reports made; and records of suspicions of any money laundering not reported to NCIS. In the credit union context, it is important to note that ML 7.3.2 R requires a credit union which has concluded that a member is financially excluded (under ML 3.1.5 G - ML 3.1.7 G) to make and keep a record of the reasons for doing so.