Bloc Québécois proposes banks be liable for customer fraud losses in budget bill

The Bloc Québécois is seeking an amendment to Bill C-15 to require banks to reimburse customers who fall victim to fraud, except where customers are grossly negligent; the change is being studied at committee and is expected to be tabled soon.

The Bloc Québécois has proposed amending Bill C-15, the Budget Implementation Act, to require banks to reimburse customers who lose money to fraud. Bill C-15 already includes measures intended to protect consumers from scams, such as requiring anti-fraud policies and giving customers greater control over account settings. Consumer groups including Option consommateurs, the Public Interest Advocacy Centre and the Canadian Association of Retired Persons have signaled support for the proposed amendment. The amendment is being studied at committee and is expected to be tabled on Monday. Key points: - The proposed amendment would make banks liable for fraud losses except where a customer is found to be grossly negligent. - Reported fraud losses to the Canadian Anti-Fraud Centre reached $544 million in the first nine months of 2025; reported figures are believed to represent about 5 to 10 per cent of actual incidents and are on track to exceed the $645 million recorded in 2024. - Bloc finance critic Jean-Denis Garon said the change would shift the burden from consumers to banks and increase banks' responsibility to report and prevent fraud promptly. - The article cites Britain’s approach to authorized push-payment scams, where liability is split between sending and receiving banks, and notes Payment Systems Regulator data showing a 15 per cent decline in related claims between October 2024 and June 2025 versus a year earlier. - The Canadian Bankers Association cautioned that the amendment alone would not stop scams and warned of possible unintended consequences, while the Department of Finance points to a planned National Anti-Fraud Strategy that aims for a cross-sector approach. - Quebec recently amended its Consumer Protection Act to require reimbursement by financial institutions for certain account frauds, though those provincial changes are not yet in force, and a Canadian Anti-Scam Coalition of about 50 organizations has been formed to coordinate responses. Summary: If adopted, the amendment would require banks to reimburse most customers who lose money to fraud, except in cases of gross negligence, which would shift financial responsibility toward banks. The proposal is under committee review and is expected to be tabled; approval in the House will depend on committee work and support from other parties given current seat allocations. The broader federal approach includes a National Anti-Fraud Strategy that the Department of Finance says will explore cross-sector and additional legislative measures.