Every transaction in any bank in Canada that's over $10,000 gets flagged by FINTRAC. That's got to be thousands of transactions on a daily basis, I would assume. I used to work as a corporate lawyer on Bay Street, and we were always dealing in the hundreds of thousands and millions of dollars in wire transfers.
How many resources does FINTRAC have to go after each little $10,000 transaction? If I'm money laundering, I'm not doing transactions in the millions to catch attention. I'm doing them at the $10,000, $15,000 limit to get away with it.