Minister Champagne Directs Financial Intel Agency to Tackle Extortion

Finance Minister François-Philippe Champagne has directed Canada’s financial intelligence agency to aid law enforcement in countering the threat of extortion by deploying resources to detect and disrupt unlawful financing.

Champagne announced Ottawa’s new “follow the money” strategy to tackle the growing problem of extortion in Canada, while speaking at a Feb. 19 press conference in Mississauga, Ont.

“When we follow the money, we expose the networks behind these crimes, we identify those which are responsible, and we disrupt their ability to operate, whether it’s here in the Peel Region, in Canada, and even internationally,” Champagne said.

Champagne said he directed the CEO of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) last week to allocate resources to assist law enforcement in identifying and preventing extortion.

FINTRAC Director and CEO Sarah Paquet, who also spoke at the press conference, described extortion as “a very serious criminal activity” that threatens Canadians and generates “significant” profits for organized crime groups. Thos profits are often laundered through Canada’s financial systems, she said.

Champagne said FINTRAC will deploy liaison officers to work directly “on the ground” with law enforcement in targeted regions of the country including Ontario’s Peel Region and parts of British Columbia and Alberta, where extortion is most prevalent.

Other measures by the agency will include a new countering extortion partnership with financial institutions, such as Canadian banks and credit unions, and implementing a Targeted Indicator Profile (TIP) to guide financial institutions to better recognize extortion patterns, the finance department said in a Feb. 19 news release.

Additionally, FINTRAC will publish intelligence on how criminals launder extortion proceeds to help law enforcement and financial institutions across Canada detect these activities.

“When we expose how they operate, it’s going to help all the financial institutions of the country to help us [to] deter and detect these crimes,” Champagne said. “For too many people, extortion is not an abstract concept anymore. It is a trend that is sent to their phone. It is a business owner deciding whether it is safe to open. It is families feeling unsafe in their home communities,” he added.

Champagne sent a letter to Paquet on Feb. 12 directing FINTRAC to implement the new measures and work “in lockstep” with municipal, provincial, federal, and international partners. He asked Paquet to provide an update on the agency’s progress by March 31.

Paquet said FINTRAC has identified 46 subjects for police investigation over the last two years, involving 11,000 financial transactions linked to extortion.

Peel Regional Police Deputy Chief Nick Milinovich, who spoke at the press conference, said extortion is “one of the most serious public safety threats that faces not only Peel Region, but our country on a national level.”

He said Peel had 476 reported extortion incidents last year, including 190 incidents that targeted businesses. Of the 190 incidents, 29 resulted in shootings and arsons, many of which he said were shared on social media.

“It is creating fear in our community,” Milinovich said. “That is not just a statistic. It represents hundreds of people who are living in fear and forced to live with the experiences they’ve had.”

He welcomed FINTRAC’s support and noted the police service is also formalizing partnerships with its provincial and federal partners.

Surrey, BC

The new measures come after Ottawa convened summits in Brampton and Surrey, B.C., earlier this year and in late 2025 to hear about how threats of violence are affecting communities. The federal government has said it intends to table legislation by the spring to set up a Financial Crimes Agency, which was first proposed last fall.

The measures also come as the province of British Columbia has been asking Ottawa for help in addressing extortion, which has been a major issue for Surrey and the surrounding area for more than two years.

B.C. Premier David Eby said earlier this month that Ottawa needs to close “loopholes” that hinder efforts to combat extortion-related shootings in his province, including one that allows suspects to seek refugee status.

British Columbia established an Extortion Task Force last fall to investigate extortion-related crimes. The task force is led by the B.C. RCMP and consists of 40 members from various policing agencies.

Public Safety Minister Gary Anandasangaree said in January that Ottawa is allocating up to 20 additional RCMP officers to Surrey to combat the ongoing extortion crisis, which primarily targets members of the South Asian community.

Jennifer Cowan and The Canadian Press contributed to this report.