The Government of Canada invites Canadians to participate in a consultation on the first-ever National Anti-Fraud Strategy. According to the Government, the Strategy aims to establish a robust, multi-sector approach to combatting fraud throughout its entire lifecycle—from averting fraudsters’ initial contact with victims, to preventing fraudulent transactions, to mitigating harms to fraud victims. Led by the Department of Finance Canada, in collaboration with 11 other departments and agencies, the Strategy will build upon existing industry-led initiatives to combat fraud and scams, such as the Canadian Anti-Scam Coalition.
The consultations seek feedback on three initial measures for the Strategy: supporting law enforcement’s ability to combat fraud; strengthening public awareness; and establishing a comprehensive Multi-Sector Anti-Fraud Framework. This framework would introduce new and enhanced obligations for federally regulated financial institutions, telecommunications service providers, and digital platforms. As part of the framework, in addition to general prevention requirements, organizations could be required to take fraud prevention measures specific to their industry, for example:
- Providing specific warnings about the risk of fraud when individuals initiate large-scale transfer payments (e.g., wire transfers, international money transfers).
- Blocking or flagging calls “spoofing” legitimate enterprises, government institutions, and law enforcement.
- Implementing screening for fraudulent profiles and pages, and blocking malicious ads.
For further information or to participate in the consultation, click here.
