A licensed real estate professional discovers that a series of transactions involving the same buyer appears to be structured to avoid FINTRAC reporting thresholds. The individual transactions are each under $10,000 but total $45,000 over two weeks. What reporting obligation exists?
Correct Answer
C) File a Suspicious Transaction Report due to potential structuring
Structuring transactions to avoid reporting thresholds is a red flag for money laundering. Even though individual transactions are below $10,000, the pattern suggests deliberate avoidance of LCTR requirements, which requires filing a Suspicious Transaction Report under FINTRAC regulations.
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