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Duty to retain transaction data


Under Section 33 of the Wwft, crypto service providers must retain CDD data and transaction data for a minimum of five years after termination of the business relationship or following the execution of the relevant transaction. This concerns all data obtained during the CDD process, e.g. copies of identity documents, correspondence, memos of conversations about and with the customer, transactions effected by the customers and information about other services provided to that customer.

Published: 11 November 2019

Under Section 34 of the Wwft, crypto service providers must record and document regular and unusual transaction data for a minimum of five years, so that the transaction can be reconstructed if necessary.

Please note that this also applies to companies that have terminated their activities and/or are no longer registered.

Section 5 of the Regulation on Supervision pursuant to the Sanctions Act 1977 (Regeling toezicht Sanctiewet 1977 – RTSw) also prescribes a five-year retention period.

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