In essence, this helps strengthen the perception that a central bank is able to fulfil its mandate of ensuring price stability. In other words, the purpose of more in-depth central bank communication is not only to reduce uncertainty, but also to bolster central bank credibility.
We believe that we have achieved a fair measure of compliance already, be it in terms of levels of reporting of suspicious transactions by banks, and in our successful conviction of persons for money laundering offences. However, we would be the first to recognise that there is always more to do here.