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(1) A person who without reasonable excuse

(a) fails to keep records, contrary to section 23;

(b)  accesses  a  computer  system,  application  data  held  in  a computer system or causes a computer system that belongs to or is under the control of the Centre or an accountable institution to fail to perform

contrary to section 25;

(c) modifies a computer system contrary to section 26;

(d) fails to comply with section 27(2);

(e)  fails  to  or  refuses  to  advise  the  Centre  or  an  authorised representative of the Centre of a client contrary to section 28;

(f) fails to report a suspicious transaction contrary to section 30;

(g) fails to protect the identity of the officer of the Centre who receives the report contrary to section 30;

(h) fails to protect the identity of a person who makes a suspicious transaction report contrary to section 30;

(i) conducts transactions in a manner to avoid a reporting duty contrary to section 31;

(j) fails to give notice of the conveyance of currency within, to or from the Republic contrary to section 33;

(k) fails to inform the Centre of the electronic transfer of currency contrary to section 34;

(l) fails to furnish the Centre with additional information contrary to

section 35;

(m) fails to comply with a direction of the Centre and proceeds with a transaction contrary to section 37; or

(n) fails to comply with a monitoring order contrary to section 38, commits an offence and is liable on summary conviction to a fine of not more than five hundred penalty units or to a term of imprisonment of not more than three years or to both.

(2) Where the offence is committed by a company or a body of persons the penalty shall be a fine of not more than one thousand penalty units, and

(a) in the case of a body corporate, other than a partnership, each director or an officer of the body is considered to have committed the offence; and

(b) in the case of a partnership, each partner or officer of that body is considered to have committed that offence.

(3) A person shall not be convicted of an offence under subsection (2), if the  person  proves  that  the  offence  was  committed  without  the  person’s knowledge or connivance and that the person exercised due care and diligence to prevent the commission of the offence having regard to all the circumstances.

(4) The court shall in addition to the penalty refer the matter to the Bank of Ghana for administrative sanction where the offence is committed by a bank.

(5) A court shall refer the conviction of an accountable institution to the supervisory body concerned for administrative sanction.