Finance committee  We have already heard about this issue. Financial institutions and law enforcement have told us that they are feeling this pressure. So we are looking into the issue. You have heard testimony on this issue, and you travelled abroad to study it. If you have any advice for us, we

Finance committee  No, we do not do that, to my knowledge.

Finance committee  I just wanted to add on the notion you raised when you used the term “investigation”. As Ms. Ryan pointed out, FINTRAC doesn't do investigations. However, there might be investigations down the line if FINTRAC reaches a threshold and discloses information to law enforcement. Fo

Finance committee  It is one issue to nail down exactly what we're talking about in regulatory-speak, but people know what we're talking about. That's not necessarily the issue. As Ian pointed out, the purpose of the regulations we're working on is not to regulate the virtual currencies themselves.

Finance committee  I would say that the modalities through which the reporting entities implement their know-your-customer obligations will vary based on the type of business they conduct, their size. In our regime we have 30,000 reporting entities. Some of them are the largest banks in the country

Finance committee  To build on an answer that Annette provided previously, I would just add the point that, under the PCMLTFA, reporting entities have obligations to know their customer. The type of work that is happening on beneficial ownership in this particular instance would be to try to unde