A says 5 years from date of filing STR, it should be 5 years from date of closing the account.
alban_999
4 days, 10 hours ago
According to the FIA SAR GUIDE 0515-1.0 from the Financial Intelligence Agency of Turks & Caicos Islands, financial institutions must retain copies of SARs/STRs and supporting documentation for five years from the date of filing the STRs. This aligns with statement A. However, regarding FATF standards specifically, financial institutions are required to establish sufficient safeguards concerning the confidentiality of information shared for AML purposes. This aligns with statement C.
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Answer is C.
A says 5 years from date of filing STR, it should be 5 years from date of closing the account.
According to the FIA SAR GUIDE 0515-1.0 from the Financial Intelligence Agency of Turks & Caicos Islands, financial institutions must retain copies of SARs/STRs and supporting documentation for five years from the date of filing the STRs. This aligns with statement A. However, regarding FATF standards specifically, financial institutions are required to establish sufficient safeguards concerning the confidentiality of information shared for AML purposes. This aligns with statement C.