The federal Liberals plan to create a financial crimes agency to tackle online scams, all part of a national anti-fraud strategy, Finance Minister François-Philippe Champagne announced on Monday.

The government will introduce the strategy on Nov. 4 as part of its fall budget, Champagne said at a press conference.

The announcement comes as the minority government looks for a partner in Parliament to help pass its financial agenda.

“This is a big bold step,” Champagne said. “As fraud becomes more sophisticated, more Canadians are being impacted.”

Increasingly intricate financial scams — such as ghost texts, phishing links and phony bank emails — pose a growing threat to Canadians, the minister said.

$643M in losses

Canadians lost an estimated $643 million to fraud in 2024, a nearly thr

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