It would be inappropriate for me to comment on specific risks within the money-laundering sector. That's maybe a better question for FINTRAC. The CBA, as a trade association, doesn't have line of sight on that level of specificity.
What I would say, though, is that what's being proposed in Bill C-12 will outline improvements to supervision enforcement, which, as I think Michael mentioned, are important for reporting sectors as a whole.
With the appropriate amendments to Bill C-12 to target it and create transparency and predictability in its application, I think we will help to encourage compliance with the PCMLTFA for certain reporting sectors and drive forward a stronger and more efficient money-laundering regime that keeps pace with risk.
Risks in the AML space are always evolving. That's why our members invest so heavily in their operations, their programs, their policies, their procedures and their training to ensure they can detect and deter risk as it changes.