Federal government expands Fintrac powers to crack down on blockade financing
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.