The federal government chose Mississauga on Thursday to announce new measures against extortion, a crime that police say has hit Peel Region harder than most parts of the country.

Finance Minister François-Philippe Champagne said the plan is built around tracking the money behind extortion schemes. He has directed the Financial Transactions and Reports Analysis Centre of Canada, known as FINTRAC, to put more of its resources into extortion cases and to help police trace the payments that criminal networks demand.

Champagne was joined by three other federal ministers with ties to Peel: Rechie Valdez, Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism; International Trade Minister Maninder Sidhu; and Treasury Board President Shafqat Ali. Mayor Carolyn Parrish, Peel Regional Police Deputy Chief Nick Milinovich and FINTRAC chief executive Sarah Paquet were also listed as taking part.

What changes

According to the Department of Finance, the measures include:

  • FINTRAC liaison officers assigned to work with law enforcement in Ontario, British Columbia and Alberta

  • A new Countering Extortion Partnership linking FINTRAC with banks, credit unions, virtual currency dealers, the Office of the Superintendent of Financial Institutions, the RCMP and local police

  • A targeted indicator profile that tells financial institutions which transaction patterns may point to extortion, so they can report them faster

  • Published intelligence on how criminal groups launder extortion payments

Peel is among the regions where the liaison officers will be placed, CTV News reported. Champagne described extortion as a crime that now reaches people directly.

It is a threat that is sent through their phone. It is the business owner deciding whether it is safe to open.

— François-Philippe Champagne, Minister of Finance and National Revenue

The scale in Peel

Milinovich said Peel police received 476 extortion reports last year. Of those, 190 targeted local businesses, and 29 of those 190 cases involved a shooting or an arson.

It is creating fear in our community. That is not just a statistic.

— Nick Milinovich, deputy chief, Peel Regional Police

Valdez, who represents a Mississauga riding, framed the announcement around the small businesses that have been the main targets in Peel.

Small businesses are the backbone of Peel Region's economy. When organized crime targets businesses in our neighbourhoods, it puts entrepreneurs, employees, and entire communities at risk.

— Rechie Valdez, Secretary of State for Small Business and Tourism

Part of a wider push

The department said the steps build on earlier federal moves against organized crime, including Budget 2025 funding for the RCMP to add personnel focused on financial crime, and planned legislation, expected in spring 2026, to create a Financial Crimes Agency.

Ottawa has also held recent extortion summits in Brampton and in Surrey, B.C., bringing together federal, provincial and municipal leaders with police and border officials.

Much of the change will happen out of public view. The measures are aimed at helping banks and other institutions spot and report suspicious payments sooner, and at getting that information to investigators in places such as Peel more quickly.