The Prevention of Money-Laundering (Maintenance of Records and Period of Retention) Rules, 2005 require banks, financial institutions, and intermediaries to maintain detailed records of customer transactions (nature, value, date, parties) and keep verified client identity documentation. These entities must adopt risk-based AML policies, implement Customer Due Diligence, and report suspicious activities. Crucially, all transaction and KYC records must be retained for at least ten years from the date of the transaction or account closure