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9.2 Required Record Types

Effective from 13/7/2023

(AML-CFT Law Articles 16.1(a),(b),(f); AML-CFT Decision Articles 7.2, 24)

The AML-CFT Law and AML-CFT Decision oblige FIs to retain several types of records, which can be classified broadly into the following categories:

Transaction Records. This category relates to operational and statistical records, documents and information concerning all transactions executed or processed by the FI, whether domestic or international in nature.
 
CDD Records. This category relates to records, documents, and information about customers, their due diligence, and the investigation and analysis of their activities, and can be further divided into sub-categories such as records pertaining to:
 
-Customer Information, including account files and business correspondence, and results of any analysis undertaken
-Company Information
-Reliance on Third Parties to Undertake CDD
-Ongoing Monitoring of Business Relationships
-Suspicious Transaction Reports (STRs)
 

Additional guidance related to these record types is provided in the following sub-sections.