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Briefing

RCMP, big banks join forces to combat money laundering and drug trafficking

Canada’s newly appointed fentanyl czar, Kevin Brosseau, launched the first meeting between the RCMP and Canada’s big banks as part of a new, concerted effort to fight money laundering schemes, including those related to fentanyl trafficking. (The Logic)

Briefing

RCMP, big banks join forces to combat money laundering and drug trafficking

By Laura Osman
Feb 21, 2025
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Canada’s newly appointed fentanyl czar, Kevin Brosseau, launched the first meeting between the RCMP and Canada’s big banks as part of a new, concerted effort to fight money laundering schemes, including those related to fentanyl trafficking. (The Logic)

Talking point: While Ottawa didn’t link the creation of the new task force to Canada’s ongoing trade dispute with the U.S. when it was first announced in December, U.S. President Donald Trump has tied his tariff threats closely to his grievances with cross-border fentanyl trafficking. Brosseau is tasked with working with U.S. counterparts and law enforcement to dismantle the fentanyl trade as a result. The new task force, dubbed the The Integrated Money Laundering Intelligence Partnership, is modeled on a similar committee in the United Kingdom. The idea is to bring together RCMP officials and banks’ anti-money laundering officers to get a better picture of the threats, but banks are not required to hand over any personal information.

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