28. Maintenance of records by licensee

A licensee shall maintain all accounts, duplicate copies of receipts and other records, including any information and documents for each transaction of its money services business, in such manner as to enable the reconstruction of any of the transactions and to ensure the convenient audit of the accounts, receipts and records for a period of not less than seven years from the date of the execution, completion or termination of the transaction, as the case may be.

A licensee who contravenes subsection (1) commits an offence.