Suspicious Transaction Report (STR) - Anti Money Laundering / Countering Financing of Terrorism (AML/CFT)
Suspicious Transaction Report (STR)
Reporting Mechanisms
As per paragraph 22.2.10 of the Policy Document, where an STR has been lodged, reporting institutions may opt to update or make a fresh STR as and when a new suspicion arises.
Reporting institutions are encouraged to submit a new STR if there is new critical information. Where a new STR is submitted, reporting institutions should include the previous reference number as part of the reporting description.
Internally Generated STR
These reports and supporting documents are to be kept for at least 6 years, as specified under Record Keeping in paragraph 24.3 of the Policy Document.
