We very much appreciate further focus of the Basel Committee on AML risks, both in terms of facilitating good supervisory practices, as well as day-to-day supervisory cooperation. [C.  Challenges posed by financial technology]  Lastly, we are observing how rapid advances in digital technology are transforming the financial landscape. Most are evolutionary in nature, while some are revolutionary in their scale and potential.
Those advances bring with them disruptions of various kinds - not only to the financial industry, but also to how we conduct supervision.