The Globe and Mail reports in its Friday, Feb. 20, edition that the Bloc Quebecois is proposing that the budget bill be amended to require banks to reimburse customers who fall victim to fraud.
The Globe's Alexandra Posadzki writes that Bill C-15, the Budget Implementation Act, aims to protect consumers from scams by requiring banks to implement anti-fraud policies and giving customers more control over account settings, as part of Ottawa's strategy to combat financial fraud.
However, critics say the measures do not go far enough to protect consumers amid the rise in increasingly sophisticated scams.
Bloc finance critic Jean-Denis Garon said, "For too long, vicious swindlers have abused consumers' honesty, and the Big Five [banks] have dodged their responsibilities toward customers." He added: "This amendment will ensure that banks are held accountable when consumers are scammed. It will prompt them to report fraud as quickly as possible instead of leaving consumers behind. It will shift the burden from consumers to the banks."
Fraud has surged in recent years, with victims reporting a total of $544-million in losses to the Canadian Anti-Fraud Centre in the first nine months of 2025.
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