The Department of Finance Canada has launched consultations on Canada’s first whole-of-government National Anti-Fraud Strategy, aimed at tackling fraud across its lifecycle from initial contact through to harm mitigation for victims. The Strategy’s development is being led by the Department of Finance Canada in collaboration with 11 other departments and agencies and is intended to build on existing industry-led initiatives such as the Canadian Anti-Scam Coalition. Feedback is being sought on three initial measures: supporting law enforcement’s ability to combat fraud, strengthening public awareness, and establishing a comprehensive Multi-Sector Anti-Fraud Framework. The proposed framework would introduce new and enhanced obligations for federally regulated financial institutions, telecommunications service providers, and digital platforms, with examples including warnings when individuals initiate large transfer payments, blocking or flagging spoofed calls, and screening for fraudulent profiles and pages and blocking malicious ads. The release also cites Canadian Anti-Fraud Centre data showing reported fraud losses of over CAD 704 million in 2025 and more than CAD 2.4 billion since 2022, alongside an estimate that only 5 to 10 per cent of scams are reported, and references Bill C-15 as introducing Bank Act requirements for banks on fraud prevention controls, consent for prescribed account capabilities, customer-adjustable transaction limits, and fraud data reporting to the Financial Consumer Agency of Canada. Comments on the consultation notice and discussion paper are due by April 28, 2026.
Department of Finance (Canada) 2026-03-30
Department of Finance Canada launches consultations on Canada’s first National Anti-Fraud Strategy
The Department of Finance Canada has launched consultations on a whole-of-government National Anti-Fraud Strategy, developed with 11 other departments and building on initiatives such as the Canadian Anti-Scam Coalition. Feedback is sought on measures to support law enforcement, strengthen public awareness, and create a Multi-Sector Anti-Fraud Framework with new and enhanced obligations for federally regulated financial institutions, telecom providers, and digital platforms, including transaction warnings, call spoofing controls, and screening of fraudulent online content. The notice cites rising fraud losses reported to the Canadian Anti-Fraud Centre and references Bill C-15 provisions on fraud prevention controls, customer consent and limits, and fraud data reporting.