I think their ability to supervise a growing number of businesses—it's up to about 36,000 entities that they must supervise—was weakened by some of their tools just not being there to support them.
In order to deal with that much volume, they took a bit of a risk-based approach, but this light touch to reviews and assessments I think weakens the assurance that businesses are following the anti-money laundering law. Self-attestations are only as good as the follow-up that you do afterwards.
I think this was a mechanism for them to deal with the increase in volume. For me, it increases the risk as well, because you don't have the same level of assurance that people are following the law.