Thank you for this question. It really goes to the heart of the questions that confront the regime. We currently do strike a balance between privacy, burden, and results.
I would like to emphasize the considerable effectiveness of the current regime in deterring criminal and terrorist activity using the financial Information that is generated through this system of intelligence. The issues that we've put forward in the discussion paper, and that you'll hear about from your witnesses, speak to strengthening this regime, its legislation, and how the partners work together in a constantly evolving context.
We think there are tangible actions that can help us move forward. At its base, this dynamic environment also gives us opportunities to do things better, for example, using technology. Inherently, financial intelligence is a system of transactions that can be queried, assessed, and we can learn interesting things. In terms of patterns of transactions, that goes to the use of algorithms, that goes to all of the modern techniques that can help us make progress by using information effectively.
The question is to get a consistent and comprehensive base of information that asks the right questions and is structured in the right way so that we have an effective chain of intelligence that we pass on to law enforcement in ways that can subsequently be the basis for successful prosecutions.
We've put forward our best advice and we look forward to hearing from the committee.