Thank you very much, Mr. Chairman.
I have a general question I would like to ask. Mr. Law has just spoken, among other things, of the efforts made by banks to combat money laundering and terrorist financing, and I know that Mr. Fox and Mr. Bernier have told us about the efforts that have been made from their side.
This is something quite specific to the financial world. We don’t ask merchants to check if the money used to pay them comes from crime or a suspicious source. I fully agree that the requirements on financial institutions should be greater, but in purely economic terms, beyond the corporate duty to fight crime, what is the impact of such a requirement? Aren’t there only negative repercussions for you? If, for example, you discover that criminals are using your systems for illegal purposes, those are customers you would be losing. So in addition to having to invest money in such efforts, you might also lose customers. The more you do your job, the better you do your job, the greater the chances are of people taking their business elsewhere. Are there any benefits for you business-wise, or are you simply doing it out of a sense of corporate duty?
I would first like to hear Mr. Law, and then Mr. Fox.