Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the agent must properly identify clients and keep records about the client and the transaction. Which statement about reporting requirements under PCMLTFA is incorrect? Suitable client photo identification must be government issued such as a Canadian passport, permanent resident card, or driver's licence Deposits of $100,000 or more from a client that is a Politically Exposed Foreign Person (PEFP) Attempted or completed suspicious transactions must be reported to FINTRAC A single cash deposit of $10,000 or more, or two or more cash deposits equaling $10,000 or more made in a 30-day period