Mr. Speaker, I thank my colleague for his worthwhile intervention this morning on Bill C-22.
My question for him is, does the legislation and this new agency, and in fact does the government have plans to investigate some of the more advanced types of money laundering? I am speaking specifically of e-laundering, the ability to transmit large amounts of money via technology, the Internet in this case. These transactions are almost impossible to track today, and with sophisticated financial instruments such as derivatives it will become increasingly difficult for governments or regulatory agencies to oversee this type of thing.
I would be concerned if the government did not have a strategy to address this in the future because, clearly, with the increased sophistication of organized crime in this area, this will be a problem; not just for tomorrow, it is probably already a problem today.
I hope this legislation does not simply address yesterday's problem because of the hesitancy of the government to address the issue earlier. I hope that we are well on the way to addressing today's and tomorrow's problem, that is, electronic commerce being used as a vehicle to launder money.