The Minister of Finance at the federal level made a visit to Mississauga, Ontario, on Thursday to introduce specialized financial intelligence professionals who will concentrate on extortion crimes aimed at Canadian businesses and households.
This action comes in response to requests from the mayors of Brampton and Caledon, Ontario, urging the federal government to assist in developing a coordinated strategy to address the increasing extortion threats faced by businesses in their municipalities, particularly those within the South Asian community.
Furthermore, this initiative follows two gatherings in Brampton and Surrey, British Columbia, aimed at understanding the impact of violence threats on local communities.
During a press briefing on Thursday, François-Philippe Champagne emphasized the approach of “following the money,” alongside other federal ministers, the mayor of Mississauga, Peel Regional Police, and the RCMP.
Champagne stated, “Our message to criminals is clear and forceful: Enough is enough. We will make their lives difficult.”
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) will collaborate closely with local law enforcement to prioritize the acquisition of more timely and pertinent financial intelligence for identifying criminal networks and assisting in investigations, as highlighted by Champagne.
In an official statement released on Thursday, the government also disclosed the initiation of a partnership between FINTRAC and Canadian financial institutions, credit unions, and financial service providers, including those dealing with cryptocurrencies, to improve information exchange and offer clear guidance on recognizing extortion-related transactions.
The news release specified that FINTRAC will publish information on how criminals launder illicit proceeds.
According to Peel Regional Police, a total of 476 extortion cases were reported in Peel Region last year. Additionally, Ontario Provincial Police noted at least 41 instances of extortion in Caledon since December 2023, showing a similar modus operandi.
The police force described how victims often receive threats of violence via calls and messages, demanding ransom payments, with the perpetrators frequently possessing knowledge of the victims’ residences or workplaces.
Meanwhile, in Surrey, authorities reported 53 extortion cases and related incidents, including 11 shootings, two arsons, and 31 victims, with 17 of them being repeat targets, as of February 16, 2026.
Addressing law enforcement officials in British Columbia on Thursday morning, Prime Minister Mark Carney expressed his focus on evaluating the effectiveness of the strategy, its implementation needs, and fostering collaboration among various agencies to combat extortion crimes.
Carney stated, “I am optimistic that this will yield results. We are determined to eradicate extortion.”
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