That's why we have accounting standards, securities regulations, and laws prohibiting economic crime. There are significant social benefits of a properly functioning market. And there are severe social costs of a market that functions poorly. Economic crime erodes the faith of Canadian and foreign investors in the integrity of our financial systems, our currency, our governments, our businesses, and our products.
These crimes undermine the financial health and reputation of our country. They are far from victimless. Ultimately, we are all  BIS Review 87/2005  1  victims of these crimes, as they erode confidence in the financial system. And it takes a long time and a lot of effort and investment to re-establish public confidence once it is lost.