Day: August 30, 2025

Which one of the following correctly describes the period for which client identification documents must be kept under money laundering regulations?

Select ONE answer:

1. For a minimum of five years and until five years have elapsed since the relationship with the client has ceased
2. For a minimum of seven years and until seven years have elapsed since the relationship with the client has ceased
3. For a minimum of five years and until seven years have elapsed since the relationship with the client has ceased
4. For a minimum of seven years and until five years have elapsed since the relationship with the client has ceased

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct == > Money Laundering Regulations 2007 state that client identification documents must be kept for a minimum of five years and for five years after the relationship elapses.
2. Not correct
3. Not correct
4. Not correct

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