Section 61: Failure to comply with duty in respect of Risk Management and Compliance Programme

## 61. Failure to comply with duty in respect of Risk Management and Compliance Programme

An accountable institution that fails to—

(a) develop, document, maintain and implement an anti-money laundering and counter-terrorist financing risk management and compliance programme in accordance with section 42(1), (2) and (2A);

(aA) obtain approval for its Risk Management and Compliance Programme in accordance with section 42(2B);

(aB) review its Risk Management and Compliance Programme at regular intervals in accordance with section 42(2C);

(b) make the Risk Management and Compliance Programme available to its employees in accordance with section 42(3); or

(c) make a copy of its Risk Management and Compliance Programme available to the Centre or a supervisory body in terms of section 42(4),

is non-compliant and is subject to an administrative sanction.