Which of the Following Transactions Need Not Be Reported to AUSTRAC

question 14

Multiple Choice

Which of the following transactions need not be reported to AUSTRAC by a cash dealer?

• A)A $15 000 cash deposit by a customer.
• B)A request by a customer to transfer $2000 from their account to an account in Hong Kong.
• C)A $5000 cash deposit by a customer followed immediately by a second deposit in the amount of $6000.
• D)A payment in cash of $8000 by a customer.

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Definitions:

Interest Earned

Interest Earned is the amount of interest received over a period on deposits or investments.

Invested Amount

The sum of money placed into an investment vehicle with the expectation of generating a return.

Payment Extension

A prolongation of the period over which a debt or loan is to be repaid.

Later Date Payment

A payment that is scheduled to be made after the usual due date.