Consequences will bite: Freeland following the money on illegal blockades

Emergency measures put in place by the federal government earlier this week to tackle illegal blockades in Ottawa are being used and are already having an impact, according to Finance Minister Chrystia Freeland.

She added there would be no tolerance for any new blockades or illegal activity popping up elsewhere in the country.

One of the many provisions of the Emergencies Act invoked by the federal cabinet on Monday, includes allowing financial institutions, like banks and investment firms, to freeze the accounts of those suspected of being involved in the funding of illegal protest activity.

Speaking at a media briefing Thursday, Freeland said she had spoken directly to the heads of the nation’s major banks and the director of FINTRAC, Canada’s financial intelligence unit, to tackle what she called the consistent foreign-funded threat to the country’s economy, democracy, and reputation.

“Information is now being shared by law enforcement with Canada’s financial institutions. Financial service providers have already taken action based on that information,” Freeland said, noting the measures will have a “growing impact in the days to come.”

Freeland reiterated the measures broaden the scope of Canadian rules to combat money-laundering and terrorism financing to include monies raised by social and online crowdfunding platforms, as well as suspicious financial transactions.

“Our absolute priority is ending these illegal blockades and occupation,” she said while adding it gave her no pleasure to impose any of the measures.

Repeating her warnings to blockaders earlier in the week, Freeland said anyone whose truck is being used illegally would have their corporate account frozen and insurance on that vehicle suspended.

“The consequences are real, and they will bite,” she said, adding there would be “zero tolerance for the establishment of new blockades or occupations.

“We now have the tools to follow the money. We can see what is happening and what is being planned in real time. We are absolutely determined that this must end, now and for good.”