Too many Canadians are victims of extortion. Every day, people and businesses fall prey to organized criminal networks that often operate across borders. The fear and intimidation associated with these crimes are real. Simply put, extortion undermines Canadians' sense of safety, and this requires a coordinated response between governments, law enforcement, and financial institutions.
Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, accompanied by Ian Lafrenière, Minister of Public Security of Québec, and Soraya Martinez Ferrada, Mayor of Montréal, highlighted Canada's new "follow-the-money" strategy to strengthen the country's ability to detect, disrupt, and prevent extortion across Canada. These efforts are particularly important in Québec, where the livelihoods of small business owners, of bars and restaurants in particular, are affected. By improving how financial intelligence is collected and shared, law enforcement will be better equipped to trace criminal networks, support investigations, and hold perpetrators accountable.
As first announced on February 19, the government is prioritizing efforts and mobilizing the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to help to combat extortion and support law enforcement investigations. These measures include assigning dedicated financial intelligence liaison officers to work with local police; prioritizing financial intelligence resources to tackle extortion; launching a Countering Extortion Partnership with financial institutions, government, and law enforcement; providing clear guidance on identifying extortion transactions; and publishing strategic intelligence on how criminals move and hide extortion money.
Since the launch of the national campaign to combat extortion, FINTRAC has engaged with 28 different law enforcement and intelligence units on the ground and nearly 200 police investigators across four provinces, including Québec. This engagement has led to 37 financial intelligence disclosures, more than three times the number generated over the past two years related to extortion.
Together, these measures strengthen ongoing efforts by federal, provincial, and municipal governments and law enforcement to combat criminal extortion. In Montréal, this includes enhanced collaboration between FINTRAC, Canadian banks, credit unions, and financial service providers of virtual assets, alongside key partners such as the Office of the Superintendent of Financial Institutions, the Royal Canadian Mounted Police (RCMP), the Sûreté du Québec, and the Service de police de la Ville de Montréal. It also involves deploying intelligence experts on the ground to support local law enforcement in detecting, disrupting, and preventing extortion.
These actions build on broader federal measures to combat organized crime and protect Canadians, including the creation of the new Canada Financial Crimes Agency, significant investments to strengthen RCMP investigative capacity, and enhanced coordination with law enforcement and intelligence partners.
