For too many Canadian individuals and businesses, extortion is a reality of everyday life - one that brings fear, intimidation, and harm to communities and families alike and that undermines Canadians’ sense of safety. These crimes are typically carried out by organized networks operating across borders and using digital platforms. That’s why coordinated action between governments, law enforcement, and financial institutions is essential and at the heart of today’s announcement.
To better protect Canadians—as announced earlier today by the Honourable François‑Philippe Champagne, Minister of Finance and National Revenue—MP Sonia Sidhu, Member of Parliament for Brampton South, reinforced the Government of Canada’s new measures to strengthen the country’s ability to detect, disrupt, and prevent extortion across Canada, especially in the most affected areas like Ontario, British Columbia, and Alberta. By improving how financial intelligence is collected and shared, law enforcement will be better equipped to trace criminal networks, support investigations, and hold those responsible accountable.
The Government of Canada is prioritizing efforts, mobilizing the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to help combat extortion and support law enforcement investigations. Key measures include:
- Prioritizing financial intelligence resources to tackle extortion:
FINTRAC will surge resources to combat extortion and provide law enforcement with more timely and relevant financial intelligence to identify criminal networks and support investigations. - Launching the Countering Extortion Partnership with financial institutions, government, and law enforcement:
FINTRAC will collaborate with banks, credit unions, virtual asset service providers, OSFI, the RCMP, and local police to enhance information sharing and best practices. - Assigning financial intelligence experts to support police:
FINTRAC will assign liaison officers directly within the most affected regions, including Ontario, strengthen information sharing and support investigations and prosecutions. - Providing financial institutions with clear guidance to detect extortion-related transactions:
A new FINTRAC Targeted Indicator Profile will help financial institutions identify suspicious patterns and report them quickly. - Publishing strategic intelligence on how criminals move and hide extortion proceeds:
FINTRAC will release intelligence on laundering methods, indicators, and typologies.
Together, these measures support coordinated efforts by federal, provincial, and municipal partners to combat criminal extortion that harms Canadians. They also build on broader actions, including the creation of the new Canada Financial Crimes Agency, enhanced RCMP investigative capacity, and increased inter‑agency collaboration.
Quotes
“Extortion is a serious crime that harms Canadians, businesses, and the sense of security in our communities. Here in Brampton and across the country, families and small business owners deserve to feel safe. By strengthening financial intelligence and working closely with law enforcement and financial institutions, our government is taking decisive action to disrupt criminal networks and keep our neighbourhoods safe. I am proud to join Minister Champagne as we work together to protect communities like Brampton.”
— Sonia Sidhu, Member of Parliament for Brampton South
“Extortion is a serious crime that harms Canadians, businesses, and communities. Our government is strengthening financial intelligence and working closely with law enforcement and financial institutions to better detect and disrupt extortion, support investigations, and help protect Canadians.”
— The Honourable François Philippe Champagne, Minister of Finance and National Revenue