A client makes three cash deposits of R20 000 each at different branches over two days, each time asking staff whether the deposit 'will be reported'. No single deposit reaches the cash threshold. What must the accountable institution do?

RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.

1. a) File a suspicious and unusual transaction report, because the pattern suggests structuring to avoid reporting.Correct
2. b) Refuse further deposits and tell the client that splitting deposits to avoid a report is an offence.
3. c) Nothing, because no single cash deposit exceeded the prescribed threshold for a cash threshold report.
4. d) Wait until the deposits of the client in the month exceed the threshold before filing any report.