Ontario Real Estate Practice Course 1 Test – Pass the Ontario License Exam in 2025

The correct answer emphasizes the urgency of addressing suspected money laundering activities. When a salesperson suspects that a property transaction may be linked to money laundering, they are legally obligated to take immediate action. Submitting a suspicious transaction report to FINTRAC, which stands for the Financial Transactions and Reports Analysis Centre of Canada, is essential because it allows this federal organization to conduct further investigations.

This action must be taken as soon as practicable to ensure that any suspicious activity can be monitored and investigated without unnecessary delay. The time-sensitive nature of money laundering means that early reporting can help in preventing further illicit activities.

The rationale for the other options underscores various procedures that may not align with legal requirements. For instance, while informing the broker is important, the immediate action is to report directly to FINTRAC to fulfill the legal obligation. Additionally, the notion of verifying and confirming suspicions before acting can lead to delays that may hinder law enforcement efforts, making it impractical in urgent scenarios like suspected money laundering.