(OTTAWA) Public Safety Minister Marco Mendicino finally revealed on Saturday how many bank accounts and assets have been frozen since the law took effect. Emergency Measures Act Tuesday. For two days, the government refused to give this information citing security reasons.
Posted at 11:31 a.m.
Financial institutions froze 76 accounts totaling 3.2 million. They can do so without fear of legal action under emergency powers. These measures are intended to cut the funding that has enabled illegal occupations in downtown Ottawa and at several border crossings across the country.
Banks and other financial institutions can freeze the personal or business accounts of any participant in unlawful blockades without court order and their assets, digital or not, after obtaining information from the police. They must also report these individuals to the Royal Canadian Mounted Police and the Canadian Security Intelligence Service.
Crowdfunding platforms and online payment services must report any large or suspicious transactions, including cryptocurrency transactions, to the Financial Transactions and Reports Analysis Center of Canada.
The Conservatives have criticized these measures because they fear abuses.
Further details will follow.