Cameroon

Art. 15(a) requires an ML/TF/PF control officer at management level. Art. 27 requires internal AML/CFT policies and procedures approved by the policy organ, with managers responsible for compliance at head office, subsidiaries and branches; Art. 28(d) provides for a compliance officer within internal control.

Art. 39 requires financial institutions to keep customer identity records for at least ten years after an account closes or the relationship ends, and transaction records for ten years after each transaction. Certain wire-transfer information held by intermediary institutions is kept for five years.

Arts 20 and 29-33 require identifying the customer and any beneficial owner and verifying identity from reliable, independent sources before entering the relationship. Art. 21 requires ongoing vigilance, and Art. 41 requires a suspicious transaction report if due diligence cannot be completed.

Art. 42 requires the originator's VASP to send the required information to the beneficiary's VASP or financial institution forthwith and securely.