Last month, Canada’s Minister of Finance François-Philippe Champagne unveiled a new initiative to combat financial fraud and abuse in Canada. The announcement includes establishing a National Anti-Fraud Strategy and a new agency called the Financial Crimes Agency (CFCA) by spring 2026.
The CFCA will investigate and help recover money from complex financial crimes, including fake investment schemes, phishing scams, and online fraud – threats that disproportionately affect retail investors. The aim is to improve coordination, accelerate financial crime investigations, and enhance victim support. The Anti-Fraud Strategy will focus on public education, stronger penalties, and improved data sharing between financial institutions and law enforcement.
Establishing the CFCA is an important step toward faster and more coordinated responses to growing threats that harm investors. We welcome this initiative by the federal government and look forward to seeing the new agency begin its work. We also encourage provincial agencies to work with the CFCA to streamline investigations, share intelligence, and enhance enforcement capacity across Canada’s fragmented regulatory landscape.