Topline
Canadian authorities have instructed banks to release the financial accounts of people whose accounts had been frozen when the country’s federal government used emergency powers to crack down on protesters who had occupied the area in front of the Canadian Parliament in Ottawa for several weeks.
A protester walks in front of parked trucks as demonstrators continue to protest the vaccine … [+]
Key Facts
Isabelle Jacques, Canada’s assistant deputy minister of finance, told lawmakers on Tuesday that a vast majority of the locked accounts are now in the process of being released.
Jacques told a parliamentary committee that up to 210 bank accounts linked to the protestors—with cumulative holdings of C$7.8 million ($6.12 million)—had been frozen under the country’s emergencies act.
The minister noted that even though more than 200 accounts were frozen, it did not necessarily mean that those many people were affected as many of the targeted individuals may have held multiple accounts.
While the Canadian government has defended the move as part of an effort to disrupt illegal activity, it has come under criticism from opposition members and financial experts who have warned that people unaffiliated with the protest may have been affected.
Tangent
Members of the opposition Conservative Party slammed Prime Minister Justin Trudeau and his government for undertaking the rarely used measure. Some Conservative lawmakers also alleged that the bank accounts of some of their constituents were frozen after they made donations to the protesters. However, the Royal Canadian Mounted Police (RCMP) on Monday said that it had only provided banks with the names of convoy organizers and truck owners who refused to leave the protest area in Ottawa. Jacques on Tuesday said that based on the knowledge she had it would be “unlikely” that someone who donated $20 to the protest several weeks ago or even after the emergency was declared would have been affected by the freeze but acknowledged that this was not “impossible.”
Key Background
Last week, Canadian Prime Minister Justin Trudeau invoked the rarely used Emergencies Act to end the blockades in Ottawa caused by the so-called “Freedom Convoy” who were protesting the nationwide vaccine-mandates. The convoy moved into downtown Ottawa in late January where they blocked several major streets, blared horns and forced local businesses to close. The demonstrations in Ottawa also helped inspire similar blockades at three critical border crossings between the U.S. and Canada. Ottawa police officers in riot gear managed to eventually clear out the protesters after making 170 arrests, towing away 53 vehicles and issuing 3,600 tickets.
Further Reading
Most bank accounts frozen under the Emergencies Act are being released, committee hears (CBC News)
Canada Instructs Banks to Unfreeze Freedom-Convoy Accounts (Wall Street Journal)
Source: https://www.forbes.com/sites/siladityaray/2022/02/23/canada-begins-to-release-frozen-bank-accounts-of-freedom-convoy-protestors/