Finance committee  I wouldn't think so, Mr. Chair. I think that the distinction we spoke to earlier, about how law enforcement agencies decide to prosecute the ensemble of evidence and actions they have before them, speaks more to the ability to get a conviction. For that reason, we would like to

Finance committee  I appreciate the question. It is, again, one of the higher-level questions facing us. We've spoken to efforts that we will be bringing forth, in coming months, in regulating virtual currency dealers. The question of how to put in place the requirements so that transactions enter

Finance committee  Yes, absolutely. We are seized with the question not of whether a transaction is above or below $10,000, but rather whether it is suspicious. That goes to a profound set of guidelines to reporting entities regarding what they should consider to be suspicious, based on their know

Finance committee  I would describe the $10,000 limit as always subject to discussion, but it's not an area that we've received a lot of feedback about, compared to other areas, for reform in the regime.

Finance committee  I would respond to your question in two directions. The first would be to speak to the efforts we have under way with the private sector not just to focus on the specific dollar limit but to find ways that we can focus on the truly suspicious transactions. That speaks to unders

Finance committee  That also speaks to the margin that we try to keep current with in terms of the types of transactions that we capture in the regime. As you have more innovation in both the number of players and the types of transactions that people make, that speaks to the need to keep all of ou

Finance committee  Absolutely. In terms of areas where Canada has shown leadership, I think Project Protect is important example of how the regimes continue to evolve. The idea of having an understanding of the patterns of specific transaction flows related to very narrow types of crime or so on, a

Finance committee  There have been different attempts to put a specific figure on money laundering. Those figures can be in the range $5 billion to $20 billion, but inherently we don't know what we don't know. If we could identify the money laundering, then the efforts would be to deter and detect

Finance committee  That's another great question, Mr. Chair. The issue of cryptocurrencies—virtual, digital currencies—is one that's under careful study in the MLTFA space. If I may, I would perhaps make three points. The first is that we have been taking steps. We've noted our intention to bri

Finance committee  There are different concepts in the question that you put forth. On the one hand, it's about the politically exposed persons and the requirements that we place on reporting entities to know their clients and to track the transactions against whom the client is, to be able to iden

Finance committee  I would be happy to. The concept of politically exposed persons was developed by the Financial Action Task Force, the FATF, and it speaks to a specific risk of money laundering and terrorist financing, particularly in the space of corruption. This is an aspect that plays to both

Finance committee  It's a great question. We're working very hard on that question, with Justice and other partners. We are looking at other international examples that could shed light on how we could structure our response to that court case, yet the Supreme Court cited the Canadian Charter of

Finance committee  Ian is closer to this one. I'll turn to him.

Finance committee  Mr. Chair, I have one specific point, which is that we've done an operational review of our effectiveness as a regime, and we see a need to address the standard of prosecution in this space. Right now, we require the standard of proof to tie the money launderer to the discreet

Finance committee  I think our colleagues at FINTRAC would be very happy to speak to their efforts in the public awareness space. It is an important activity that FINTRAC undertakes, and they have been making progress in any number of areas to bring a wider swath of Canadians, particularly those wh