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(Helmut, a Canadian resident for 10 years, invests $25,000 in a segregated fund within an...

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(Helmut, a Canadian resident for 10 years, invests $25,000 in a segregated fund within an RRSP. The agent processes the transaction without asking for proof of identity.

According to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), what is the conclusion about the agent’s action?)

A.

He has violated the identification requirements because the amount of the transaction is more than $10,000.

B.

He has not violated the identification requirements because the amount is less than $100,000.

C.

He has violated the identification requirements because the agent previously completed just one transaction for Helmut.

D.

He has not violated the identification requirements because the amount was deposited in a registered account.

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