Thank you for the question.
Without doing an analysis of what the exact right amount is to dissuade people and going into any kind of behaviour analysis, I would say at a very basic level that you are looking at what the cost of doing business is. In this case, it's the business of crime. When you are talking about laundering millions of dollars, a 1% hit on that could be considered the cost of doing business.
This is why we talk about, as well, the need for penalties for money laundering to be highly substantive and not just seen as the cost of doing business, to properly dissuade money launderers from exploiting Canadian housing.