Ottawa launches consultations for national anti-fraud strategy

Ottawa is launching consultations to develop a national anti-fraud strategy that will address liability for fraud losses. The initiative could lead to regulatory changes reallocating reimbursement responsibilities across banks, fintechs and payment providers, potentially increasing compliance costs and altering loss provisioning for affected financial institutions if adopted.

Analysis

Ottawa is launching consultations to develop a national anti-fraud strategy that will address liability for fraud losses. The initiative could lead to regulatory changes reallocating reimbursement responsibilities across banks, fintechs and payment providers, potentially increasing compliance costs and altering loss provisioning for affected financial institutions if adopted.