Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued new intelligence highlighting a growing pattern of extortion targeting South Asian diaspora communities including in BC. These activities, linked to organized crime networks and, in some cases, individuals claiming ties to groups such as the Bishnoi Gang, involve intimidation, violence, and coordinated financial activity. For real estate agents, this serves as an important reminder that financial crime risks are evolving and can intersect with everyday transactions in unexpected ways.
Extortion schemes often involve demands for payments through cash, e-transfers, or cryptocurrency, with victims sometimes liquidating assets or moving funds quickly under pressure. These patterns can surface in real estate transactions—for example, through unusual deposits, rushed sales, or clients acting under distress. FINTRAC is asking reporting entities, including real estate professionals, to remain alert to these indicators and to assess transactions carefully when behaviour or financial activity appears inconsistent with a client’s profile.
To support law enforcement efforts, FINTRAC has launched Operation TAPEX (Timely Analysis of Proceeds from Extortion), an initiative focused on tracking financial flows linked to these crimes. If you have reasonable grounds to suspect a transaction is connected to extortion or related money laundering, you are required to submit a Suspicious Transaction Report (STR). Including the keyword #TAPEX in your report can help FINTRAC identify and analyze these cases more effectively.
By staying informed, documenting detailed observations, and reporting suspicious activity, you contribute to protecting vulnerable communities, supporting law enforcement, and safeguarding the integrity of the real estate sector.
For more information, visit the FINTRAC website.