Wednesday, February 16, 2022

Canada to Expand Scope of 'Terrorist Financing' Rules, Will Allow Banks to Freeze Assets With No Oversight

On Monday, Canadian Prime Minister Justin Trudeau invoked the never-before-used Emergencies Act in order to crack down on Freedom Convoy protesters, who have been peacefully demonstrating for over two weeks. As part of the act, Canadian Deputy Prime Minister Chrystia Freeland announced an expansion of “terrorist financing” rules that would allow banks to freeze assets with no oversight. The new measures also apply to crowdfunding outlets and payment processing providers.