Ontario police welcome financial experts to fight extortion

Fintrac will embed financial crime experts with Peel Regional Police to help trace extortion-related funds; Peel reported 476 extortion incidents last year, including 190 targeting businesses.

Peel Regional Police have reported a rise in threats against people and businesses. Last year the force recorded 476 reports of extortion, 190 of which involved businesses. The federal government announced that Fintrac financial crime experts will be embedded with Peel police to assist with tracing suspected extortion funds. Key points: - Peel recorded 476 extortion reports last year, with 190 targeting businesses. - Investigators say many incidents begin with messaging apps and some victims do not report or delay reporting. - Fintrac will place financial intelligence personnel alongside local officers and share data with financial institutions to flag suspicious transactions. - Officials did not disclose operational details during the announcement, and the question of additional funding was not ruled out. Summary: Officials say embedding Fintrac experts aims to make it harder for extortion to be profitable by improving the ability to follow money. Operational details were not released and next steps are undetermined at this time.