By Canadian Press

Federal government expands Fintrac powers to crack down on blockade financing

Feb 14, 2022 | 4:22 PM

OTTAWA — The federal government is broadening the scope of anti-money laundering rules and directing banks to cut off services to those suspected of aiding the trucker protesters as it looks to put an end to what it says are illegal blockades.

Finance Minister Chrystia Freeland says crowdfunding sites being used to channel money to the protesters will now be required to report to the Financial Transactions and Reports Analysis Centre of Canada.

She says the move, to be made permanent, will allow Fintrac to make more information available to police and other enforcement agencies.

Freeland says that under the Emergency Act, the government has also authorized banks to cut off services to clients who they think are aiding the blockades.

She says the government has directed financial institutions to review their relationship with anyone, whether individuals or businesses, involved in the blockades, and that federal institutions will share information with the banks to help stop funding going to the blockades.

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Prime Minister Justin Trudeau invoked the Emergencies Act to bring to an end to antigovernment blockades he says are illegal and not about peaceful protest.

This report by The Canadian Press was first published Feb. 14, 2022.

The Canadian Press