A student of an Engineering College is having a Savings Bank Account (SB A/c) in a bank situated in the college campus. His father used to deposit ₹ 20,000 per month for his day to day need and the transactions in his ba

The transactions in the accounts should be according to the profile of the customer. In the given case, the profile of the customer is of student, who is getting his monthly expenses from his father to meet out the day today expenses. The regular credit inflow although in small amount from the unknown sources and leading to accumulate to a large volume, is not according to the profile of customer i.e. student. The branch manager should have interrogated the student about the source of credit inflow in his account and if no satisfactory reply with evidences tendered by the student, the branch manager should have marked the transactions as 'Suspicious Transactions' and be reported as Suspicious Transaction Report (STR) to the Financial Intelligence Unit - India (FIU - Ind) through the proper channel (i.e. though the Banks' Chief Compliance Officer, Head Office).