Under FINTRAC regulations, real estate brokers and sales representatives must report large cash transactions at what minimum threshold?
Correct Answer
A) $10,000 or more
FINTRAC requires reporting of large cash transactions of $10,000 or more as part of Canada's anti-money laundering regime. This threshold applies to real estate professionals who are considered reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
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