Record Keeping

Reporting Entities should maintain records for at least five years, to enable them to comply swiftly with information requests from the competent authorities (FIU). Such records must be sufficient to permit reconstruction of individual transactions (including the amounts and types of currency involved, if any) so as to provide, if necessary, evidence of criminal activity.

Customer Identification

Records on the identification data obtained through the customer due diligence process (e.g. copies or records of official identification documents like passports, identity cards, driving licenses or similar documents), account files and business correspondence should be kept for at least five years after the business relationship is ended.

Suspicious Transactions Reports

Records in accordance with the reporting of unusual or suspicious transactions and all records of investigations of those reports together with the decision made may be retained for a period of at least five (5) years after the report has been made.

Training Records

Training Records must be kept including dates of training sessions, a description of training provided and names of the employees that received training for a period of at least five (5) years from the date on which training was received.

Annual Reports

Annual report and any other reports that highlight the level of compliance, deficiencies and actions, including reports submitted to senior management.
The transaction records and other identification data may be made available to the FIU upon request.