Marshall Islands

Customer identification, account files and business correspondence must be kept for six years after the account is closed, and transaction records for at least six years from completion of the transaction (Banking Act s.169(2), s.169(4)). Suspicious transaction reports are kept for fifteen years (s.170(3)), and copies of suspicious activity reports for fifteen years from filing (AML Regs reg. 5(c)).

Currency transaction reports are due no later than ten working days after the transaction in currency (reg. 6(e)(3)) and cover transactions over US$10,000, single or aggregated within 24 hours; copies are kept for six years from filing (reg. 6(f)). Banking Act s.180 also refers to the $10,000 threshold over a 24-hour period.