Final answer:
Option (C), If a client refuses to provide their SIN# at account opening, the correct course of action would be to reject the account opening.
Step-by-step explanation:
If a client refuses to provide their SIN# at account opening, the correct course of action would be to reject the account opening. In most countries, including Canada and the United States, financial institutions are required by law to obtain their clients' social insurance or security numbers for identification and tax purposes. Failing to provide the SIN# can raise red flags and may be indicative of potential fraud or illegal activity.
Obtaining the SIN# by any means necessary, as mentioned in option D, is not an appropriate action and can result in serious legal consequences. Client privacy and security are important considerations, but compliance with regulatory requirements is equally important in the financial industry.
If a client refuses to provide their SIN#, it is best to notify the regulatory authorities, such as the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) or the Financial Crimes Enforcement Network (FinCEN) in the United States. These authorities can provide guidance on how to handle the situation and may initiate further investigation if necessary.