Finance committee  Yes, I am here. Unfortunately, no. We don't have...I think FINTRAC would likely be in a better position to know the origin of funds. Again, it gets information or transaction reports where there's a suspicion of potential money laundering, or when individuals are making large-va

Finance committee  Sure. Briefly, Isabelle spoke to this before. I think the major gaps are information-gathering gaps, and that's what we're trying to address by working on regulations that will capture crowdfunding platforms and payment service providers with a view to having a better line of sig

Finance committee  I just want to make it clear that the FINTRAC officials haven't received any form of communication from the department regarding the freezing of accounts. This type of practice isn't part of its mandate.

Declaration of Emergency committee  I don't recall any such comments that were made by the FIs themselves.

Declaration of Emergency committee  No, for any broad figures, we're relying on media statements. The only numbers we received were of accounts frozen by the financial institutions themselves.

Declaration of Emergency committee  Yes, aggregate data was forwarded to the Privy Council, which aggregated information based on what was happening with respect to the emergency measures.

Declaration of Emergency committee  It gave us an idea of the size of the amounts that had been frozen and of the total amounts in the accounts that had been frozen.

Declaration of Emergency committee  Briefly, essentially the new regulations made permanent what was contained in the emergency measures, in terms of the obligations on crowdfunding platforms and payment service providers to register and to disclose suspicious transaction, and also put on them heightened responsibi

Declaration of Emergency committee  We have looked at benchmarking what other countries are doing. Canada is one of the first in terms of the coverage of crowdfunding platforms; however, in regard to payment service providers, the European Union as well as Australia already cover those entities for purposes of anti

Declaration of Emergency committee  Sure. In terms of sort of the international reach, we became aware through media reports of the fact that potential U.S. funds were being used. In regard to the measures that were put in place for crowdfunding platforms and PSPs, they apply equally to firms that are domiciled

Declaration of Emergency committee  No. I'm sorry. I shouldn't have given any sense of nuance to that—

Declaration of Emergency committee  No, I haven't had any discussions with U.S. counterparts since.

Declaration of Emergency committee  Apologies. I was just saying that, from a financial sector policy perspective, we weren't part of any discussions on the broader economic impacts of what was happening at the border. I would be speculating, but I would expect that discussions were taking place within the departm

Declaration of Emergency committee  Again, the reporting requirements are specific to the proceeds of crime, money laundering and terrorist financing, which is a federal regime. The registration requirement is with FINTRAC for purposes of PCMLTFA, so there is no overlap with any other registration requirements that

Declaration of Emergency committee  I can't speak specifically, necessarily, to what countries were facing at the time. I can say that Canada is part of what we call the Financial Action Task Force, which is the body that sets standards around anti-money laundering and anti-terrorist financing. That body has identi