Canada to launch new federal office targeting financial crime and fraud

Canada is creating a new federal office to lead efforts against financial crime. The initiative marks the government’s most significant move yet to modernize its approach to fraud and money laundering.

The Financial Crimes Agency is the centerpiece of Canada’s National Anti-Fraud Strategy for its Budget 2025, according to a press release Monday. It will focus on money launder, organized crime, and online financial scams when it’s formally established in spring 2026.

“Fraud and financial crime are evolving rapidly, and so must our response,” François-Philippe Champagne, Minister of Finance and National Revenue for Canada, said in the press release. ”Through Budget 2025, we are taking bold steps to protect Canadians—especially those most at risk—from exploitation and abuse. Whether it’s launching a new Federal Anti-Fraud Strategy, establishing a dedicated Financial Crimes Agency to combat financial crimes, or addressing economic abuse, our government is committed to safeguarding the financial security of every Canadian.”