Finance committee  Since our industry is not regulated, there is no support whatsoever.

Finance committee  From our perspective, our business globally works with an agent relationship and our to-date response to this need for tighter anti-money-laundering control has been to simply create the infrastructure within our organization to allow our agents to comply with jurisdictions every

Finance committee  We currently do those things now at our own expense completely. It's an interesting question. I have never given any thought, in all honesty, to what types of government support would be appropriate for this.

Finance committee  We are onside to have registration for money services businesses like ours. I think it was Mr. Law, or maybe Mr. Timmins, who commented on the number of organizations being very hard to track, and that's true. We are completely in favour of a registration system. In our earlier

Finance committee  That's part of the equation. Also, if the process of registration is extremely expensive or onerous, it may cause, not necessarily one-person operations, but other types of operations in Canada to slip underground.

Finance committee  Yes, absolutely.

Finance committee  I would have to echo those comments. Western Union has been involved in this globally in a very large way probably since 2002, but always a component of what we try to offer our consumers is confidence, and we rest on that. Our entire business hinges on that confidence. We don't

Finance committee  Thank you. We were involved both with FINTRAC and with the Department of Finance in discussion on our industry specifics. Given Mr. Bernier's point, which we noted as well, there were 54 mentions of the prescribed regulations, with no supporting documents to help us understand w

Finance committee  About two and a half years ago, our company instituted a policy for a global requirement for identification at $1,000. This is a recommendation of the Financial Action Task Force on Money Laundering, and so we've taken that to heart and applied it across the globe.

Finance committee  We keep all of these records and have used them in reporting to law enforcement when requested. However, currently we don't collect identification on transactions below $1,000.

Finance committee  Thank you, Mr. Chairman, for the opportunity to appear at this committee. Before I discuss our position on this important legislation, I would like to give you a brief overview of our business, our clients, and the typical way in which Canadians use Western Union's services. Wes