The Liberal government says it will include a new strategy to tackle online financial crimes in its upcoming budget, and introduce legislation to create a financial crimes agency by the spring of 2026.
Canadians lost an estimated $643 million to financial scams in 2024, Finance Minister François-Philippe Champagne said at an Oct. 20 press conference, noting that the figure represents a nearly 300 percent increase since 2020. He said the government needs to “take bold action” to stop these types of crimes.
