Canada’s financial intelligence agency has released a new bulletin aimed at helping businesses detect and report money laundering linked to extortion targeting the country’s South Asian diaspora.

The Financial Transactions and Reports Analysis Centre of Canada said the guidance is intended for businesses subject to federal anti-money laundering laws, with a focus on identifying suspicious financial activity tied to extortion schemes.

The report says that the news media is reporting an increase in extortion attempts, shootings, arson attacks and cross-border criminal networks, as well as the involvement of foreign nationals, including organized crime groups with links to India. These activities threaten public safety, undermine community well-being, and create significant financial, operational, and psychological pressures on victims.

Officials say extortion is an increasingly serious threat affecting individuals and businesses, generating significant profits for organized crime that are often laundered through the financial system.

Since the start of , FINTRAC says it has produced more than 100 financial intelligence disclosures related to extortion cases, identifying over 300 individuals and involving more than 63,000 financial transactions — a sharp increase compared with the previous two years combined.

Finance Minister François-Philippe Champagne said the federal government is taking a coordinated approach to combat the issue, including a “follow-the-money” strategy and expanded partnerships with police and the private sector.

FINTRAC director Sarah Paquet said the agency is working closely with law enforcement by providing financial intelligence and sharing emerging trends to help disrupt criminal networks behind extortion.

The bulletin forms part of broader federal efforts under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, which requires certain businesses to report suspicious transactions.

Officials say the agency has also increased resources and on-the-ground support for investigators, while collaborating with partners across Canada to strengthen intelligence-sharing and enforcement efforts.