An oath of secrecy is a very important part of every consumer related law, ensuring that customer information is kept private, granting client surety and confidence in the operational systems of service companies.

As stated in the Anti-Money Laundering (AML) Act, 2008, Act 749, a person appointed to an office, appointed to act in an office, or authorised to perform a function, under the AML Act shall swear an oath of secrecy set out in the Second Schedule before assuming office or before performing the function under this Act.

a. State and explain one (1) instance in which an employee or an accountable institution is allowed to breach this oath of secrecy under the Anti-Money Laundering (AML) Act, 2008, Act 749. (10 marks)

b. Explain one (1) instance in which an employee or an accountable institution is not allowed to breach an oath of secrecy under the Anti-Money Laundering Act, 2008, Act 749.