[dpylyp]

on June 23rd 2008 The financial Tracking and Reporting Laws Come into effect.

They require Disclosure to the Government of any Large Cash Deposits.
Requirements to Take copies of photo ID and Passports.

No one seems to be talking about this... but its a huge issue.

I summarized the legislation here as it pertains to Real estate; FINTRAC Guidelines

In light of the [Scarborough] Agent who was recently beaten and left bound at the property, Photo ID does not appear that cumbersome.

ODDLY, Your lawyer would be exempt from telling anyone you paid cash.

 

[dpylyp]

Financial Tracking and Reporting Act FINTRAC

Agent's today have been handed a package to complete with all all clients they come in contact with.
When you sign a Buyers Agency Agreement
When you sign a Listing for Sale
When any deposit are received.
When a property is sold or purchased using a Power of Attorney
When a corporation makes a Purchase or Sale

http://www.humberbayshore.com/siteobjects/soeditor/lite/docs/Fintrac instructions June08.pdf