Complicit Parties

Who Enables Derisking in Canada?

Derisking is not the action of a single rogue institution — it is a coordinated practice carried out by banks, government agencies, compliance firms, and financial regulators. These entities, knowingly or unknowingly, contribute to discriminatory financial exclusion through opaque systems and unchecked power.

Government Bodies

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC is Canada’s financial intelligence unit. While its mandate is to detect money laundering and terrorist financing, its data collection and reporting obligations can lead to profiling and over-surveillance, especially of Muslim charities and racialized groups.

Canada Revenue Agency (CRA)

Through audits and deregistrations, the CRA has been documented to disproportionately target Muslim-led charities, often without clear justifications or follow-up.

Financial Institutions

Major Canadian Banks

Big banks have implemented aggressive compliance policies that often lead to account closures without explanation. These actions, often presented as risk mitigation, disproportionately affect racialized individuals, immigrants, and international organizations.

Credit Unions

While community-oriented in theory, credit unions are not immune to derisking behaviors, especially when pressured by third-party compliance frameworks.

International Influence

United States Sanctions and Blacklists

Due to global banking interconnectivity, Canadian financial institutions often comply with American watchlists, even when no Canadian law mandates it. This imported risk logic affects clients with tenuous or no actual connection to criminal activity.

Global Correspondent Banks

Many Canadian banks rely on correspondent relationships with larger global banks. These international partners may enforce strict compliance conditions, pressuring local banks to derisk clients to preserve relationships.

Join the Initiative

Every voice matters. Whether you’ve been impacted by derisking or simply believe in the right to equitable banking access, your support helps push for lasting change.

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Accountability and Change

Complicity Without Oversight Is Dangerous

These institutions represent more than just names on a list — they reflect a system that routinely places compliance over fairness, liability over humanity. Their actions are rarely questioned, their decisions rarely reversed, and the individuals they impact are often left without answers, appeals, or recourse. When banks, regulators, and government agencies cooperate to flag or exclude individuals and organizations, they do so behind closed doors. Their justifications are vague. Their methods, protected by secrecy. Yet the consequences are very real: frozen accounts, canceled services, reputational damage, and total disconnection from the financial system. We are not here just to name. We are here to demand change — to call for transparency in risk designation, meaningful oversight, and the right to appeal.