I do not want to take you outside your area of expertise. There might be other opportunities in the next few days to get that information, but I would still like to ask you this question.
In some ridings, including mine, we see more and more businesses with a storefront that offer to send money to another country for a fixed fee plus a commission. For example, people working here will use this service if they do not have access to a bank. Generally speaking, it seems to work. However, if things go wrong, they really go wrong. Recently, there have been several cases of large scale fraud where the money was never transferred. The RCMP has been called in in some cases and tried to shut down these businesses. Sometimes there were suspicious transfers.
Here we are talking about our banking institutions. There is nothing more structured and formal in our society than a bank. But how will the proposed regulatory framework be able to capture these storefront businesses?