Champagne unveils Ottawa’s ‘follow the money’ plan to tackle extortion

The federal government is bringing law enforcement and financial institutions together in a bid to fight extortion operations targeting Canadian businesses and households.

Finance Minister Francois-Philippe Champagne is in Mississauga, Ont., today to announce a suite of new initiatives he says will make it easier for police to “follow the money” and disrupt criminal networks.

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Canada’s financial intelligence agency Fintrac will put new resources behind tackling extortion and will share data with financial institutions to help them flag suspicious transactions.

Champagne says organized crime is making Canadians anxious in their own neighbourhoods and afraid to start up small businesses.

The federal government convened a pair of summits in Brampton, Ont., and Surrey, B.C., earlier this year and in late 2025 to hear about how threats of violence are affecting communities.

The Liberals say they plan to table legislation by the spring to set up a Financial Crimes Agency first proposed last fall.

This report by The Canadian Press was first published Jan. 19, 2026.