QUESTION PERIOD — Ministry of Public Safety
Financial Crimes
April 21, 2026
Minister, thank you for joining us.
Extortion is increasingly targeting small- and medium-sized businesses, or SMEs, often through organized criminal networks that rely on intimidation, digital platforms and anonymous payments. In February, the government announced a series of targeted measures to strengthen financial intelligence, enhance information sharing with banks and law enforcement, and deploy the expertise of the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, to support investigations. Small-business owners are asking for visible protection, clear reporting pathways and faster action on the ground.
Minister, can you share with us how these measures will translate into practical, accessible support for SMEs, especially those facing repeat or credible threats? What steps are being taken to ensure police have the resources, coordination and intelligence needed to disrupt extortion networks that are increasingly more sophisticated before businesses are forced to pay or shut down?
Thank you, senator. There are extortion pockets in four different parts of the country, and they are unique in their own composition and nature. Between Surrey, or the Lower Mainland, and the Peel Region, as well as the Edmonton area, extortion is targeting members of the South Asian community. A number of measures have been taken there, including lead support by the RCMP, along with the integration of the Canada Border Services Agency into the work of the local police of the jurisdiction, and additional tools by way of FINTRAC to trace the money scenario that Minister Champagne outlined.
In Quebec, a slightly different version of extortion is taking place. The police of that jurisdiction have been leading the work, but from a federal perspective, we have provided additional tools by introducing FINTRAC into the equation. It is an area where FINTRAC has typically not been outwardly involved, but it is a very important additional tool that we are able to use.
In all three or four different areas of jurisdiction with extortion as a significant issue, we are seeing an initial — and I say it reluctantly — downward trend —
Thank you, minister.
Thank you for that answer. Since 2019, the government has invested close to $379 million in combatting financial crime, and more money was announced in Budget 2025, including for the creation of the new financial crimes agency to strengthen Canada’s response to money laundering and organized crime.
Can you clarify what model this new agency will have, how it will interact with FINTRAC and law enforcement and when legislation will be introduced to formally establish the agency and provide it with the necessary authorities?
I will boldly say, wait. In the next few weeks, you will hear more about all the questions you are posing on this issue. At this point, it would be inappropriate for me to comment, as a lot of work has been done, and we’re very confident that, in the coming weeks, you will potentially have legislation or a road map in terms of how the financial crimes agency will be established.
Thank you.
