Section 22: Reporting

(1) Alicensee shall, within ten working days from the last day of every month, submit to the central bank information regarding- (a) the number of registered and active agent locations on the network, with activity counted on the basis of monthly transactions; (b) the volumes and values of all activities on its platform broken down by type of transaction, including cash-in, cash-out, fund transfers and other payment services; (c) volume and value of points of sale including interbank transactions where applicable; (d) incidents of fraud, theft or robbery if any; (e) number and type of service interruptions and significant security breaches; (f) number of suspicious transaction reports generated; (g) gender disaggregated data of its customers; and (h) complaints received, broken down by category and agent location, including remedial measures taken. (2) In addition to the information referred to in subregulation (1), an electronic money issuer shall submit the following to the central bank- (a) the number of registered and active electronic money accounts issued, broken down by the type of account level; (b) the sum total of outstanding electronic money balances held by the electronic money issuer including customers, agents and other balances; (c) the aggregate value of all trust accounts used in the electronic money transactions; (d) the value of each trust account held with the respective financial institution or micro-finance deposit taking institution; (e) interest earned on the trust account or special account; (f) volume and value of cross border transactions; (g) volume and values on interoperability; (h) information on dormant accounts specifying the volume, value and age; (i) volume and value of transaction bands; G) the electronic value held in the trust or special account expressed as a percentage of the total electronic value of the electronic money issuer; and (k) such other information as may be required by the central bank from time to time. (3) An electronic money issuer shall submit to the central bank information related to financial inclusion as may be determined by the central bank from time to time. (4) The electronic money issuer shall notify the central bank in writing, no later than twenty-four hours from the occurrence of any of the following- (a) suspected or confirmed fraud relating to the electronic money service, security breaches, material service interruption or other significant issues that may affect the safety and efficiency of the electronic money service; (b) loss of confidential data; and (c) any other occurrence from which the central bank may request for information. (5) An electronic money issuer shal] on a daily basis submit to the central bank a reconciliation statement between the electronic money account and the trust account or special account. (6) Anelectronic money issuer shall on a weekly basis submit to the central bank a report of the breakdown of the balances in the trust account or special account in liquid assets as prescribed in section 60 (2) of the Act. (7) Anelectronic money issuer shall replicate in real time the data and records of the electronic money account to the central bank J or as directed by the central bank. (8) Any licensee who without reasonable cause fails to comply with this regulation or submits inaccurate returns within the stipulated period, shall pay to the central bank a civil penalty of two hundred currency points per day of default.