Under FINTRAC regulations, a real estate professional must verify the identity of a client using which of the following methods?
Correct Answer
B) Credit information file or government-issued photo identification
FINTRAC requires client identification to be verified using either a government-issued photo identification document or by referring to a credit information file from a Canadian credit bureau. These methods provide reliable verification of client identity for anti-money laundering purposes.
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Under federal FINTRAC regulations, what is the threshold amount above which real estate professionals must report large cash transactions?
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