Humber/Ontario Real Estate Course 2 Exam Practice

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Which is NOT a report or record used in relation to FINTRAC?

  1. Deposit Receipt Record

  2. Individual Identification Information Record

  3. Large Cash Deposit Report

  4. Receipt of Funds Record

  5. Terrorist Property Report

  6. Wire Transaction Report

The correct answer is: Large Cash Deposit Report

In relation to FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), the Large Cash Deposit Report is not a report or record used. FINTRAC requires real estate professionals to keep records such as the Deposit Receipt Record, Individual Identification Information Record, Receipt of Funds Record, Terrorist Property Report, and Wire Transaction Report. These records help to track and report financial transactions to prevent money laundering and terrorist financing activities. The Large Cash Deposit Report is not a part of the required reports or records for FINTRAC compliance in the real estate industry.

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