The federal government announced a new suite of measures it says will support law enforcement in “detecting and disrupting extortion” in communities around Canada, including Peel Region.
Speaking at a news conference in Mississauga, Federal Finance Minister Francois-Philippe Champagne outlined Ottawa’s “follow the money” strategy to curb the rise in extortion incidents across the country.
“For too many people, extortion is not an abstract concept anymore,” he said.
“It is a trend that is sent to their phone. It’s a business owner deciding whether it is safe to open. It is families feeling unsafe in their home communities.”
He said he has directed the CEO of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to “prioritize and mobilize resources to support law enforcement.”
This support, he said, includes sending liaison officers with the organization to work “on the ground” alongside law enforcement in select regions around the country, including Peel Region and parts of B.C. and Alberta.
“They can monitor financial transactions that are reported to them by financial institutions in the country so their role is to help investigators, which will identify patterns, trace illicit funds and intervene before further harm is done,” Champagne said Thursday.
“FINTRAC will implement a new targeted indicator profile on extortion, which will be shared with financial institutions across the country to help the people recognize suspicious transactions with a series of red flags so they can be equipped to report quickly and effectively the suspicious transactions to relevant authorities.”
He added that FINTRAC will publish new strategic intelligence that examines how criminal networks launder proceeds.
“When we expose how they operate, it is going to help all of the financial institutions in the country,” Champagne said.
“We are going to make life very difficult for criminals around the country… The whole financial community is coming together to combat extortion.”
Peel saw 476 extortion reports last year
Peel Regional Police Deputy Chief Nick Milinovich said last year alone, there were 476 reports of extortion in Peel Region.
“Of those 476, 190 targeted our business community. That business community is made up of families and people that are working hard to make our community and Canada a better place to be,” he said.
He said 29 of those 190 involved shootings or arsons.
“Many of those have been captured on social media… and it is creating fear in our community. 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,” Milinovich said.
He applauded the announcement from the federal government on Thursday, noting that many stakeholders must come together to tackle extortion.
“The reality is, while it is not just Peel, we are on the forefront of this battle.”
Milinovich called extortion “one of the most serious public safety threats” that the country and region is currently facing.
“This really is about protecting businesses, our communities, and the people that make those communities up,” he said.
