Department of Finance of Canada

02/19/2026 | Press release | Distributed by Public on 02/19/2026 08:40

Government announces new measures to help protect Canadians and businesses against extortion

Government announces new measures to help protect Canadians and businesses against extortion

From: Department of Finance Canada

News release

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.

February 19, 2025 - Mississauga, Ontario - Department of Finance Canada

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, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, along with the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism, the Honourable Maninder Sidhu, Minister of International Trade, and the Honourable Shafqat Ali, President of the Treasury Board, is today announcing new measures to strengthen Canada'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 to combat extortion and support law enforcement investigations. Key measures include:

  • Prioritizing financial intelligence resources to tackle extortion: FINTRAC will surge resources to combat extortion. This will enable law enforcement to receive 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 work closely with Canadian banks, credit unions, and financial service providers of virtual assets, including cryptocurrencies, alongside partners such as the Office of the Superintendent of Financial Institutions, the Royal Canadian Mounted Police (RCMP), and local police, where applicable, to enhance information sharing and share best practices to fight extortion.
  • Assigning financial intelligence experts to support police: FINTRAC will assign dedicated liaison officers to work directly with local law enforcement in the most affected areas, such as Ontario, British Columbia, and Alberta. These officers will provide specialized financial intelligence expertise, strengthen information sharing, and ensure financial intelligence is supporting enforcement efforts, investigations, and prosecutions.
  • Providing financial institutions with clear guidance on how to detect extortion transactions: FINTRAC will issue a Targeted Indicator Profile or 'TIP', which will give practical guidance to help financial institutions recognize patterns and behaviours commonly associated with extortion. This will help ensure suspicious transactions are reported quickly and accurately.
  • Publishing intelligence on how criminals move and hide extortion money: FINTRAC will publish strategic intelligence detailing how criminals launder extortion proceeds, including indicators and typologies to aid in its detection.

Together, these measures will support the ongoing efforts by federal, provincial, and municipal governments and law enforcement to combat criminal extortion activities that harm Canadians. 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.

Quotes

"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

"Communities across Canada are feeling the impact of extortion. Our government is taking action by investing in prevention, strengthening enforcement, improving intelligence sharing, deepening collaboration at home and abroad, and bringing in tougher laws for extortion related offences. Working with provincial, territorial, and municipal partners, and law enforcement agencies across the country, we are taking a coordinated approach to combat this threat. The new measures announced today give police even more tools to target extortion and cut off the illicit money that fuels it."

- The Honourable Gary Anandasangaree, Minister of Public Safety

"Small businesses are the backbone of Peel Region's economy. When organized crime targets businesses in our neighbourhoods, it puts entrepreneurs, employees, and entire communities at risk. Today's measures reinforce that we will protect the hardworking business owners who power our local economies and ensure they can operate in safety and stability."

- The Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism

"In Brampton, I've heard from families and business owners about the real fear that extortion creates in our community. No one should feel unsafe in their own neighbourhood or workplace. Our new government is strengthening the work of the Financial Transactions and Reports Analysis Centre of Canada and coordinating with partners such as the RCMP and other law enforcement agencies. We are following the money, targeting criminal networks, and protecting our communities."

- The Honourable Maninder Sidhu, Minister of International Trade

"By strengthening cooperation between governments, law enforcement and financial institutions, we are taking action to disrupt criminal networks, protect livelihoods and ensure Canadians, including families and businesses in Brampton, can live and work without fear."

- The Honourable Shafqat Ali, President of the Treasury Board

Quick facts

  • The Government of Canada recently convened summits on extortion in Surrey, B.C. and Brampton, Ontario, bringing together federal, provincial, and municipal leaders, along with law enforcement partners, including the Canada Border Services Agency and RCMP, to strengthen coordination and advance integrated efforts to disrupt cross-border criminal networks and protect local businesses and residents.

  • Budget 2025 announced $1.7 billion in funding to strengthen the RCMP's response to a wide range of threats related to transnational organized crime, financial crimes, and money laundering, while enhancing its intelligence and national security capacity, fulfilling the government's commitment to hire 1,000 RCMP personnel. The Prime Minister has indicated that 150 of these new personnel will be dedicated to tackle financial crimes-targeting money laundering networks, organized crime, online fraud, and the recovery of illicit assets.

  • Leveraging these investments in federal law enforcement capacity, Budget 2025 proposed to establish a new Financial Crimes Agency to be Canada's lead enforcement agency against financial crimes. This agency will be a best-in-class model that aims to unite the police and civilian expertise needed to investigate complex cases of money laundering, organized criminal activity, and online financial scams, and to recover illicit proceeds. The Minister of Finance and National Revenue is working with the Ministers of Justice and Public Safety to introduce legislation to stand up the new Financial Crimes Agency by spring of 2026.

  • Businesses with anti-money laundering and anti-terrorist financing (AML/ATF) obligations are on the front lines of the fight against money laundering, terrorist financing, and sanctions evasion. Bill C-12, the Strengthening Canada's Immigration System and Borders Act, proposes comprehensive reforms to strengthen AML/ATF supervision, compliance, and enforcement, including by increasing AML/ATF civil penalties by forty times, and criminal fines by ten times, their current amount.

  • Since 2019, the government has invested close to $379 million in combatting financial crimes. These investments have strengthened supervision and financial intelligence functions at FINTRAC, increased resources and tools to support financial crime investigations, and enhanced Canada's ability to combat trade-based financial crime.

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Media may contact:

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
[email protected]

Media Relations
Department of Finance Canada
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613-369-4000

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Department of Finance of Canada published this content on February 19, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on February 19, 2026 at 14:40 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]