Category: FINTRAC

Budget’s Plans for Financial Crimes Agency Prompts Concerns Over Impact on Crowdfunding

Some are welcoming the new law enforcement agency announced in Budget 2022 to help tackle Canada’s significant money laundering problem, while also expressing concern over its potential use to block crowdfunding for certain efforts if adequate safeguards aren’t in place—as they say occurred for the convoy protests against COVID-19 mandates. The federal budget proposed providing…


Banks Have Started Freezing Accounts of Some Involved in Protests, Canada’s Deputy PM Says

The RCMP have started sharing names of individuals and corporations, as well as their cryptocurrency wallets, with financial institutions to freeze the accounts of some people involved with convoy blockades and protests, federal ministers say. Deputy Prime Minister Chrystia Freeland told reporters in a press conference on Feb. 17 that information is now being shared by law…