Record maintenance and transaction reporting

Reporting entities must maintain prescribed transaction and identity records and furnish reports within rule-based time limits while maintaining confidenti

Finin2min summary

Reporting entities must maintain prescribed transaction and identity records and furnish reports within rule-based time limits while maintaining confidentiality.

Source review date: 4 July 2026. Read with the official text and the facts of the transaction.

Legal anchors

Section 12
Rules 3–8 and 10
FIU reporting formats

How to analyse it

Classify reportable transaction types.
Build system rules and manual escalation.
Retain data and supporting records for prescribed period.
Protect STR confidentiality.

Practical illustration

Cash and integrally connected cash transactions may require monthly reporting, while an STR requires prompt filing after satisfaction of suspicion.

What can go wrong?

Treating thresholds as substitutes for suspicion
Tipping off customer
Incomplete transaction linkage

Evidence pack

Transaction data
Alert disposition
Report acknowledgement
Retention log

Decision workflow

Freeze the facts and effective date.
Identify the controlling Act, rule, notification, circular and jurisdictional overlay.
Prepare a calculation or exposure note.
Collect the evidence pack before filing, payment, signing or response.
Record reviewer conclusion and assumptions.

Quick Q&A

Is the result automatic?

No. Classify reportable transaction types.

What is the most important control?

Protect STR confidentiality.

What should be escalated?

Treating thresholds as substitutes for suspicion, especially where money, deadlines, enforcement, personal liability or irreversible transaction steps are involved.

Official source trail

Secondary commentary may help interpretation, but it is not the source of law.