The thing with auction houses is that at the moment, one can go into a jewellery auction.... There are many, many of them across the country. Some move, some are permanent houses, and some of them are absolutely legitimately good businesses. You can go in there and literally have $200,000 in cash and there is no requirement to report to FINTRAC that kind of transaction. There's no requirement for a suspicious report either, other than if there's a good corporate citizen, they would hopefully alert law enforcement. It is a gap within the sector that could be tightened up.
On March 21st, 2018. See this statement in context.