Canadian authorities are taking a zero-tolerance approach to extortion crimes, with a new strategy to combat the rising threat targeting businesses and households. The federal finance minister, François-Philippe Champagne, announced the deployment of dedicated financial intelligence experts to focus on extortion crimes, following calls from mayors in Brampton and Caledon for a multi-jurisdictional strategy to address the issue. The strategy, dubbed 'follow the money', aims to make criminals' lives difficult and send a powerful message that 'enough is enough'.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) will work closely with local law enforcement and prioritize receiving more timely and relevant financial intelligence to identify criminal networks and support investigations. FINTRAC will also partner with Canadian banks, credit unions, and financial service providers, including cryptocurrency exchanges, to enhance information sharing and provide clear guidance on detecting extortion transactions. This partnership will also involve publishing intelligence on how criminals launder proceeds.
The urgency of the situation is evident, with Peel Regional Police reporting 476 extortion crimes in 2025 and the Ontario Provincial Police noting at least 41 incidents of extortion in Caledon since December 2023. The victims typically receive threatening calls and messages, with perpetrators often knowing their locations. In Surrey, police have reported 53 extortions, 11 related shootings, two arsons, and 31 victims as of February 16, 2026, with 17 of those previously targeted.
The Prime Minister, Mark Carney, expressed confidence in the strategy's impact, stating that they will 'stamp out extortion'. The government's comprehensive approach, involving law enforcement, financial institutions, and community leaders, is a significant step towards combating this serious crime.
