A mortgage agent suspects that a client's SIN card provided as identification might be fraudulent. What is the most appropriate action for the mortgage agent according to FINTRAC guidelines?

Question: A mortgage agent suspects that a client's SIN card provided as identification might be fraudulent. What is the most appropriate action for the mortgage agent according to FINTRAC guidelines?

Answer options: ✅ Refuse to proceed with the transaction and consider making a suspicious transaction report (STR).

• Accept the SIN card but ask for an additional piece of photo identification.
• Contact the client's employer to verify the SIN number's validity.
• Advise the client that the SIN card is invalid and request a different document.

Correct answer: Refuse to proceed with the transaction and consider making a suspicious transaction report (STR).

Explanation: If a mortgage agent suspects that identification documents are fraudulent, they have an obligation under FINTRAC to assess for suspicious activity, refuse the transaction, and consider filing a suspicious transaction report.