On 6th November, 2000, the Central Bank of Brazil issued a Circular which sets out the information that must be obtained and registered by banks and financial institutions in relation to transactions involving deposits, transfer of funds and settlement of transactions made using bank cheques. The relevant information must be held for five years from the date of the conclusion of each transaction. The Circular takes effect on 28th February, 2001.
Source: Central Bank of Brazil Circular no. 3.012, published in the Official Gazette of the Federal Executive, Section I, of 11th November, 2000. Pinheiro Neto Advogados