Canadian Securities Course (CSC) Practice Exam · Question
Under what circumstances is an investment dealer required to report a suspicious transaction to FINTRAC?
Reporting entities, including investment dealers, are required to submit a Suspicious Transaction Report (STR) to FINTRAC when they have reasonable grounds to s
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Question: Under what circumstances is an investment dealer required to report a suspicious transaction to FINTRAC?
Answer options: ✅ When there are reasonable grounds to suspect that a transaction is related to a money laundering or terrorist financing offence.
- When a client deposits more than $10,000 in cash in a single transaction.
- When a client requests to transfer funds to an offshore account.
- When a new account is opened without meeting all KYC requirements.
Correct answer: When there are reasonable grounds to suspect that a transaction is related to a money laundering or terrorist financing offence.
Explanation: Reporting entities, including investment dealers, are required to submit a Suspicious Transaction Report (STR) to FINTRAC when they have reasonable grounds to suspect that a transaction is related to a money laundering or terrorist financing offence, regardless of the amount.
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