Carney government steps up action against extortion in the Toronto area

The federal government announced it will redirect financial-crime resources and work more closely with banks and police to address extortion in the Greater Toronto Area, which officials say has disproportionately affected the South Asian community. The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) will reassign personnel, share intelligence and launch partnerships with banks to support investigations.

The federal government announced new measures to address a rise in extortion affecting the Toronto area. Officials spoke at an event in Mississauga and said many victims have been within the Greater Toronto Area's South Asian community. The plan focuses on redirecting federal financial-crime resources and increasing collaboration with banks and police. Ministers said agencies will receive additional support as needed. Key points: - Officials said extortion schemes have targeted members of the GTA's South Asian community and prompted numerous police reports. - The government said the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) will "surge resources," reassign personnel, provide timelier information to police, publish strategic intelligence on laundering linked to extortion, and launch a partnership with banks to flag suspicious patterns. - The government also noted it will fund agencies as required and is advancing crime-related legislation in Parliament; Prime Minister Mark Carney is scheduled to travel to India next week. Summary: Officials described an increase in extortion reports involving residents and businesses in the Greater Toronto Area, particularly within the South Asian community. The current response centers on redirecting Fintrac resources, sharing intelligence with police and banks, and progressing related legislation in Parliament. Prime Minister Carney's upcoming visit to India was noted as part of broader diplomatic and policy activities. Undetermined at this time.