(1) A licensee shall in accordance with this section, in respect of its money services business—
(a) keep accounting records; and
(b) establish and maintain systems
(i) of internal control and record keeping, and
(ii) for inspection and report.
(2) The licensee shall ensure that systems of control, inspection and reporting and recording of the money services business is so conducted that—
(a) the information necessary to enable the directors to discharge their duties and functions is sufficiently accurate, and is available with sufficient regularity or as needed and with sufficient promptness; and
(b) the information obtained by or furnished to the Authority under or for the purposes of this Act, is sufficiently accurate for the purpose for which the information is obtained or furnished.
(3) A licensee shall institute procedures to ensure that the accounting records and systems of control comply with the requirements of the Money Laundering (Prevention) Act.