What is de-risking, and why did you write this report about it in the Canadian context?

So yeah, you know, to be honest, before we started looking into this, we didn't really know that much about de-risking ourselves either here at ICLMG.

But I guess I could say that we don't really follow it, but banks have a complex set of regulations that they need to follow in order to prevent financial crimes from taking place, so whether that's money laundering, or in this case, concerns around terrorist financing or, or any other kind of financial crime.

And so based on legislation that governs how they work, they need to be constantly looking at where risks may come from clients of the banks in terms of, you know, financial crime.

And so the outcome of this is de-risking.

And so they're making these decisions, and when they make a decision to basically avoid risk, they're engaged in risk mitigation, so they're taking certain measures to kinda reduce that risk.

But what can happen is that they also engage in this overly broad de-risking, where they decide that, well, based on your profile and what we've seen, we think that you're too big a risk for our bank, that we may eventually run into some legal problems, and so we're going to close your account, give you 30 days notice, no information about why your account is being closed, and, you know, we'll give you your money back, but you'll have to find within those 30 days another bank or financial institution or something to do with your... with your money.

Tim, what kind of correctives are needed to change this situation?