June 26, 2026 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada is strengthening Canada’s financial sector and making it work better for Canadians, including by combatting fraud and increasing competition. Today, proposed regulatory measures to support this plan were included in the Canada Gazette, Part I.
Proposed regulations to combat consumer-targeted fraud were pre-published for a 30-day comment period, as a first step ahead of the government’s broader work to develop a National Anti-Fraud Strategy.
These new regulations are needed to operationalize the amendments to the Bank Act enacted through Bill C-15, which require banks to have policies and procedures to detect and prevent consumer-targeted fraud and to mitigate its impacts. The regulations specify that banks must obtain consumers’ express consent prior to enabling electronic funds transfer…
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