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Finance Minister Launches 30-Day Consultations for Canada’s National Anti-Fraud Strategy
Consultations aim to create a national strategy involving banks, telecoms, and digital platforms to reduce fraud losses exceeding $700 million in 2025, officials said.
- On Monday, Finance Minister François-Philippe Champagne launched 30-day consultations in Montreal for a national anti-fraud strategy addressing liability for fraud losses and scam prevention at every stage.
- Fraud has surged in recent years, with the Canadian Anti-Fraud Centre reporting victims lost more than $704 million in 2025; officials estimate only 5 per cent to 10 per cent of fraud is reported.
- The strategy aims to impose new obligations on financial institutions, telecom companies, and digital platforms, including issuing pre-emptive warnings or blocking callers who impersonate legitimate organizations.
- Consumer advocates and the Bloc have proposed banks reimburse fraud victims, citing liability models in Britain and Australia; however, Liberal and Conservative members defeated the amendment in February.
- Ottawa announced last month it would crack down on organized crime extortion scams by ramping up partnerships between law enforcement and financial institutions, embedding intelligence agents with police across Canada.
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31 Articles
31 Articles
The federal government could impose new obligations such as on banks and digital platforms to combat financial scams.
·Montreal, Canada
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Winnipeg Free Press+25 Reposted by 25 other sources
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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According to the Department of Finance, Canadians reported more than $704 million in fraud losses in 2025 only
·Quebec City, Canada
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Coverage Details
Total News Sources31
Leaning Left18Leaning Right0Center6Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
Factuality
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