The government also plans to make fraud-prevention policies mandatory for banks, and will look at similar options for technology and telecommunications firms as part of a new anti-fraud strategy. (The Logic)

Talking point: The Liberals have promised a specialized agency to fight financial crimes since 2021. Finance Minister François-Philippe Champagne’s office has not put a price tag on the new strategy or enforcement agency, though the Liberals pegged the cost at $200 million over four years in their 2021 election platform. There will be some overlap with existing agencies, like the Financial Transactions and Reports Analysis Centre of Canada, Office of the Superintendent of Financial Institutions and units within existing law enforcement agencies, said Anthony Ostler, chair of the Canadian Anti-Scam Coalition. Even so, he supports the idea of a dedicated organization to connect the dots across multiple scams and platforms.