Under FINTRAC guidance, which statement about how a real estate professional may verify a person's identity is correct?
Correct Answer
C) Photo ID, a credit file, or the dual-process method may be used
FINTRAC's guidance lists five methods to verify a person's identity: government-issued photo identification, the credit file method, the dual-process method, the affiliate or member method, and the reliance method. Photo ID issued by a municipal government is not acceptable, and the dual-process method needs information from two different reliable sources.
Why This Is the Correct Answer
This answer is correct. Government-issued photo ID, the credit file method and the dual-process method are all accepted ways to verify a person's identity under FINTRAC's guidance.
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