Payments Canada held the fourth and final webinar in its educational series supporting public engagement on the legal framework for Real-Time Rail (RTR), Canada’s forthcoming real-time payment system, with a focus on the RTR’s fraud management strategy and the role participants will play in mitigating fraud. The webinar series is intended to inform responses to a public consultation running from 20 May 2025 to 2 July 2025. Guided by the Bank of Canada’s expectations for fraud risk management in prominent payment systems and informed by global best practices, the strategy is designed to deliver a trusted payment infrastructure while complementing participants’ existing fraud mitigation services. RTR fraud mitigation is set to include four centralized services—confirmation of payee, central fraud analytics, a central risk list and central fraud reporting—which participants will be required to use, alongside their own internal fraud controls. To support ongoing evolution of requirements, Payments Canada plans to establish a fraud forum to gather insights and update fraud requirements in light of operational experience and fraud trends. The consultation on the RTR legal framework remains open until 2 July 2025.
Payments Canada 2025-06-13
Payments Canada details Real-Time Rail fraud management strategy including mandatory centralized fraud services
Payments Canada concluded its webinar series on the Real-Time Rail (RTR) system, focusing on fraud management strategies and participant roles in fraud mitigation. The strategy, aligned with the Bank of Canada's expectations and global best practices, includes centralized services such as confirmation of payee and central fraud analytics. Payments Canada will establish a fraud forum to update requirements based on operational insights and trends.