Fintrac Warns of Extortion Targeting South Asian Communities

OTTAWA — Canada's financial intelligence agency has warned that criminal organizations are increasingly relying on young students from India to facilitate extortion schemes targeting South Asian communities nationwide.

In a special bulletin released this week, the Financial Transactions and Reports Analysis Centre of Canada, known as Fintrac, outlined signs of these activities and urged banks and other financial institutions to stay vigilant. The agency, which analyzes millions of financial reports annually from entities like banks, credit unions and real estate brokers, shares its findings with law enforcement partners including the Royal Canadian Mounted Police and the Canadian Security Intelligence Service.

Fintrac reported generating more than 100 disclosures related to extortion in 2026 so far, surpassing the total from the previous two years combined. These disclosures involved over 300 individuals and more than 63,000 transactions.

The bulletin describes how extortion against South Asian communities has shifted from isolated incidents to a coordinated campaign spanning provinces, particularly British Columbia, Alberta, Manitoba and Ontario. Small and medium-sized business...