Major financial services, telecommunications and technology companies in Canada have partnered with law enforcement and the federal government to prevent scams and educate consumers on the increasingly sophisticated schemes targeting them.
The cross-sector initiative, called the Canadian Anti-Scam Coalition (CASC), was announced on Tuesday.
The coalition is slated to deliver a comprehensive national education campaign on the growing threat of scams this fall. Member organizations of the coalition have committed funding and expertise to develop the upcoming campaign.
“Scams are evolving faster than ever, and criminals are becoming increasingly sophisticated in targeting Canadians,” said Anthony Ostler, chair of the CASC steering committee and CEO of the Canadian Bankers Association, in a release.
“This [c]oalition represents something we’ve never seen before. Canada’s major organizations, including those from the financial, telecom, tech, and law enforcement sectors standing together with one unified message.”
According to the Canadian Anti-Fraud Centre, victims of fraud and cybercrime in Canada lost more than $638 million in 2024 — an increase from the previous year’s loss of $578 million.
These scam operations target Canadians through various channels, ranging from phone calls to sophisticated online schemes and methods using artificial intelligence.
The new coalition was founded on the basis “that combating scams requires cross‑sector collaboration rather than isolated efforts,” CASC noted in its release.