New anti-fraud measures coming as finance minister set to speak
The federal Liberals plan to unfurl measures today to counter fraud and strengthen Canadians’ financial security — the latest in a series of pre-budget announcements.
Finance Minister François-Philippe Champagne is to be joined at a news conference by Public Safety Minister Gary Anandasangaree and Stephanie McLean, secretary of state for seniors.
The Canadian Anti-Fraud Centre has documented more than 30 types of fraud targeting Canadian consumers and businesses.
The centre’s most recent annual statistical report says individuals under age 50 were more likely to be victimized by fraud, but those over age 50 lost more money on average per fraud.
The report for 2024 adds that the total amount lost by people 60 and older made up about 40 per cent of the overall dollar loss reported to the centre.
In the spring federal election campaign, the Conservatives proposed ensuring Canadian banks and cellphone companies do a better job of detecting scams, alerting potential victims and blocking suspected fraud in real time.
The Conservatives also promised to increase fines and prison sentences for criminals who defraud vulnerable Canadians, should they form government.
Champagne is slated to present the federal budget Nov. 4.
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