Toronto, ON, November 4th, 2025
The federal government has unveiled Canada’s first-ever National Anti-Fraud Strategy, introducing tougher measures to combat financial scams and economic abuse.
The initiative requires banks to develop explicit fraud-prevention policies, obtain customer consent before enabling high-risk digital transfers, and give users greater control over account features. It also establishes a new Financial Crimes Agency, set to launch by Spring 2026, to coordinate investigations into online fraud, organized financial crime, and money laundering.
While the plan focuses on the banking sector, its effects will extend to insurance and premium-finance operations, where identity theft and social-engineering scams can trigger false claims or misdirected payments. The new framework signals a shift toward cross-sector collaboration and shared fraud intelligence, helping insurers and financial intermediaries detect risks earlier and respond faster.
At IPFS Canada, protecting brokers and clients from financial crime is integral to how we operate. Our fraud-control framework focuses on transparency, proactive monitoring, and accountable review.
Key measures include:
- Monthly Fraud Reports that identify duplicate or high-risk bank accounts across multiple loans.
- Automated anomaly detection to flag unusual activity, such as shared accounts or atypical repayment patterns.
- Structured review and escalation, ensuring every flagged case is examined by management and resolved promptly.
- Comprehensive documentation and audit oversight to verify consistency and reinforce compliance across all regions.
As the federal strategy moves toward implementation, IPFS Canada continues to strengthen its fraud-detection framework — combining technology, human oversight, and industry collaboration.
