Test 1
This page provides the latest specifications for CTR and STR reports and InfoPath form templates that implement the specification. Specifications are in the form of XML Schema (.xsd) documents. Submitted reports shall be XML (.xml) that is validated against the XML Schema. Reports may be prepared in the following ways: 1) The InfoPath templates may be used to create valid reports;2) Valid XML reports can be directly extracted from reporting entity core systems and/or databases by any available means (i.e. database query, data transformation script, low-level program, etc.); 3) Any other tool that produces valid XML. No matter which method is used for report preparation, the result must be valid with respect to its XML Schema.
For additional information, please refer to Reporting Guideline
The Anti-Money Laundering Law and Prakas requires specific Customer Due Diligence measures, including customer identification, to be performed prior to establishing a business relationship and prior to executing a one-off transaction exceeding the threshold and whenever there is a suspicion of money laundering or terrorist financing and whenever doubt exists regarding the veracity of information provided. Therefore, you should update your processes and your records so that the required information is in your possession.
You need to report all the data that you have available to you regarding the transaction in accordance with the CTR or STR specification, respectively.
If you are one of the entities described in Article 1 of the Prakas on Anti-Money Laundering and Combatting the Financing of Terrorism and you or your institution have been party to a transaction or an attempted transaction that meets the criteria specified therein, then you need to submit a report to CAFIU.
Suspicion can have many definitions. For purposes of reporting, suspicion is created when the transaction activity or the behavior of a customer does not match our expectations based on the customer's profile, or when the transaction activity or behavior of a customer matches what we know about criminal offenses and their proceeds. This suspicion persists even after further examination and investigation.