Absolutely, and part of the problem is that we, as democracies, allow the fox into the henhouse. With a lot of our financial legislation, when the money comes in from China or Russia and is connected to state-sponsored actors or to the governments directly, oftentimes it's legal. It's through legal means. It's through shell companies and real estate and others.
That's because in Canada and the United States, at least today, to my knowledge there's no registry, not only for foreign agents.... Well, we have one in the United States, but it's poorly implemented. Canada to date does not have one. Also, a beneficial ownership registry would at least unmask who the hidden owners are behind companies and behind property. That's how a lot of this autocratic authoritarian money enters into Canadian politics, American politics and European politics.
That's what's so insidious and long term about the use of the financial tools to corrode our democracies. It's not always about a particular election, a particular candidate or a particular riding. It's way more insidious than that. It's about moving money into our system, masking the origin of that money and presenting it as authentic Canadian voices trying to influence Canadian politics when there's a clear tie to an authoritarian regime like China or Russia.
Tightening up laws in the financial space...and this is applicable to my country too. I'm not trying to cast stones at Canada here. It's a problem facing a lot.... In the EU, there are many governments facing this exact problem. Ensuring that there's full transparency over the money that's coming into our country through property and in companies is a sure way to expose and provide sunlight onto the origins of money entering domestic politics from abroad.