Regulatory Alerts2026-04-23
FINTRAC Publishes Money Laundering Indicators Related to Extortion
FINTRAC issued a Special Bulletin detailing money laundering indicators for extortion targeting Canada’s South Asian diaspora, requiring businesses regulated under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to identify, report, and share suspicious transaction data. This directive strengthens the Government of Canada’s Countering Extortion Partnership by delivering actionable financial intelligence that has already produced over 100 disclosures, identified more than 300 subjects, and tracked over 63,000 transactions since January 2026. To operationalize these requirements, FINTRAC is deploying financial intelligence officers to law enforcement agencies nationwide and conducting targeted information-sharing sessions with financial institutions to disrupt organized criminal networks profiting from extortion.