The short answer
Canadians lost a reported $638 million to fraud in 2024 across 108,878 CAFC reports — and the CAFC estimates that is only 5–10% of the true loss because most victims never report. The main reporting channel is the new joint RCMP/CAFC system at reportcyberandfraud.canada.ca (online) or 1-888-495-8501 (phone). Your bank handles the money-recovery side, with the Ombudsman for Banking Services and Investments (OBSI) as the sole external escalation since November 2024. Unlike the UK's PSR rule, Canada has no automatic reimbursement for authorised-push-payment fraud — refunds are case-by-case and depend on documentation.
The two most consequential changes in Canadian fraud reporting since 2024 are administrative rather than legislative, but their practical effect is significant. The first is the November 2025 launch of reportcyberandfraud.canada.ca, a single joint online platform run by the RCMP's National Cybercrime Coordination Centre (NC3) and the Canadian Anti-Fraud Centre. For decades Canadian fraud reporting was fragmented across the CAFC, local police, and various RCMP intake channels; the new system consolidates intake so a single report reaches all three.
The second is the November 2024 elevation of the Ombudsman for Banking Services and Investments (OBSI) to sole external complaints body for all Canadian banks. Previously, banks could choose between OBSI and a competing for-profit ombudsman service; the federal government ended that choice. The practical result is that every Canadian bank's final-decision escalation now lands at OBSI, an independent not-for-profit body with consistent rules.
Beneath both changes sits the unchanged Canadian structural reality on fraud recovery: there is no automatic reimbursement rule. The UK's Payment Systems Regulator made banks refund authorised-push-payment fraud victims up to £85,000 within five business days starting in October 2024 (see the UK guide). Canada has no equivalent. Australia's Scams Prevention Framework Act introduced a redress pathway via AFCA but again no automatic reimbursement (see the Australia guide). The US Regulation E framework leaves authorised-transfer scams largely uncovered (see our Zelle scam refund piece). Canada is closer to the US position than to the UK position — refunds are negotiated case-by-case with the bank, with OBSI as the binding final escalation if the bank refuses.
The new joint RCMP/CAFC reporting system — what changed in November 2025
For years, victims had to navigate a confusing reporting landscape: the CAFC for intelligence, local police for criminal investigation, and the RCMP NC3 for cybercrime coordination. Each used its own intake form. Many victims filed with only one and assumed the others were notified — they were not.
The November 2025 joint system fixes the single biggest practical problem with that landscape: one report at reportcyberandfraud.canada.ca now reaches all three.
—Anonymous or full-identity reporting. You can report without giving your name if you wish. Anonymous reports still feed the CAFC's intelligence picture and contribute to enforcement priority decisions, but they do not enable bank investigations or formal police casework on your behalf. If you want a case number for your bank dispute, file under your name.
—Phone alternative: 1-888-495-8501. The CAFC phone line remains operational for victims who prefer not to use the online system. The phone line connects you to a CAFC officer who will walk you through the report. Average wait times can be long during business hours; the online system is generally faster.
—Cross-border coordination. The CAFC shares case information with international law enforcement partners including the FBI's IC3, the UK's Report Fraud, Australia's ScamWatch and NASC, and Europol. International scammer cases are common and the data-sharing reduces the friction of cross-border investigation — though recovery odds remain low for cases where the scammer is offshore.
—The CAFC's true-reporting estimate: 5–10%. The CAFC has consistently estimated that only 5 to 10 percent of all fraud is reported. The actual 2024 loss in Canada is therefore probably between $6.4 billion and $12.8 billion — not $638 million. The reporting rate is also what makes individual reports valuable: every report you make moves the visible-loss number toward the real one and unlocks more enforcement attention.
Your bank, your money, and the OBSI escalation path
Canadian bank fraud disputes follow a standard sequence, and knowing it matters more than knowing the law because the bank's policy is what determines whether you get the money back. The basic flow:
1Call your bank's fraud line — the number on the back of your card — within hours of the loss. Demand a dispute under your account agreement's fraud clause. Get a written reference number.
2The bank investigates. Typical internal timeline is 30-56 days. They will assess whether the transaction was 'unauthorized' (you didn't make it) or 'authorized under deception' (you sent the money yourself, even though it was a scam). Unauthorized cases are usually refunded; authorized-under-deception cases are where most refusals happen.
3Receive the bank's final decision letter. This is the document you need before escalating. The letter will state the bank's position and any reasons.
4If you disagree, escalate to OBSI at obsi.ca within 180 days of the final-decision letter. As of 1 November 2024, OBSI is the sole external body for all Canadian banks. Their service is free and binding on the bank if they rule in your favour.
5If OBSI rules against you, your remaining options are civil court (small-claims or Superior Court depending on the amount), and possibly making a complaint to the Financial Consumer Agency of Canada (FCAC), though FCAC's mandate is bank-conduct regulation rather than individual restitution.
The single most consequential difference between Canada and the UK on fraud reimbursement in 2026: the UK's PSR mandatory reimbursement rule requires banks to refund authorised push payment scam victims up to £85,000 within five business days. Canada has no equivalent. Canadian bank refunds for authorised-transfer scams remain a negotiation, escalating to OBSI if the negotiation fails. Document everything.
The Interac e-Transfer reality
Interac e-Transfer is Canada's equivalent of the US Zelle network — instant, irreversible, bank-to-bank, used by 99% of Canadian adults. It is also the primary payment rail for Canadian scams, exactly the way Zelle is in the US.
—Once sent, an e-Transfer is hard to reverse. Like Zelle, Interac e-Transfer is designed for instant settlement between known parties. If the recipient has already 'auto-deposited' or accepted the transfer, recovery requires either the recipient's cooperation (which a scammer will not give) or coordinated action between the sending and receiving banks. The window during which a recall has a chance is measured in hours, not days.
—The CRA does not use Interac e-Transfer. Any text, email, or phone call claiming the Canada Revenue Agency wants to send you (or collect from you) an e-Transfer is, by definition, a scam. The CRA does not transact via Interac e-Transfer. Forward suspicious CRA-impersonation messages to the CRA at canada.ca/cra-fraud.
—Fake Interac notification emails are everywhere. Phishing emails styled to look like real Interac confirmations link to credential-harvesting pages. The legitimate Interac confirmation contains your real bank's branding and the actual deposit destination — fake ones do not. Open your real banking app to verify any deposit before acting on an email.
—Your bank's reimbursement obligation depends on your account agreement. Most major Canadian bank contracts include a clause covering 'unauthorized' Interac transfers (zero customer liability if you didn't make the transfer) but exclude 'authorized' transfers you made under deception. This is the same loophole that affects Zelle in the US. The argument that matters in escalation is whether you were 'reasonable' in believing the transfer was genuine — that's where documentation and screenshots come in.
Investment fraud — the regulators you need to know
Investment fraud is the largest single source of Canadian fraud losses, accounting for $310 million of the $638 million 2024 CAFC total — nearly half. Canadian Securities Administrators (CSA), an umbrella for the thirteen provincial and territorial securities regulators, is the main coordinating body. You will generally report investment fraud to your provincial regulator, not directly to CSA.
—Ontario — Ontario Securities Commission (OSC). osc.ca. The largest provincial regulator by case volume. The OSC also runs investor education through GetSmarterAboutMoney.ca.
—Quebec — Autorité des marchés financiers (AMF). lautorite.qc.ca. Quebec's all-in-one financial regulator, covering both securities and insurance. The AMF is one of the most aggressive enforcement bodies in Canada.
—British Columbia — BC Securities Commission (BCSC). bcsc.bc.ca. Active on retail-investor fraud, particularly crypto and forex schemes.
—Alberta — Alberta Securities Commission (ASC). asc.ca. Energy-sector and natural-resources investment fraud is particularly relevant here.
—Other provinces. Manitoba (mbsecurities.ca), Saskatchewan (fcaa.gov.sk.ca), Nova Scotia (nssc.novascotia.ca), New Brunswick (fcnb.ca), PEI (princeedwardisland.ca), Newfoundland (gov.nl.ca/dgsnl), territories. The CSA national page at securities-administrators.ca has the full directory and a redirect-to-your-regulator wizard.
—National umbrella — the CSA itself. Between June and November 2025, the CSA in collaboration with the Canadian Investment Regulatory Organization (CIRO) deactivated more than 3,900 fake investment platforms and 6,900 individual URLs. Reports translate into takedowns. For the broader investment-fraud playbook, see our investment-fraud guide.
Credit bureaus and the coming Ontario credit-freeze law
Canada has historically lagged the US on credit freezes. The Canadian credit bureaus — Equifax Canada and TransUnion Canada — offer a softer mechanism called the "fraud alert," which flags your credit file and instructs lenders to take extra verification steps. A determined lender could still extend credit. As of 2026, this is still the federal-level default.
—Equifax Canada — 1-800-465-7166. Place a fraud alert online at equifax.ca or by phone. The alert remains on your file for up to 6 years and can be removed at any time.
—TransUnion Canada — 1-800-663-9980. Place separately at transunion.ca or by phone. TransUnion alerts are set for varying durations and are renewable.
—Both bureaus must be contacted. There is no central placement. A fraud alert at one bureau does not propagate to the other. Always do both.
—Ontario's actual credit-freeze regulation arrives 1 July 2026. Under regulations to the Ontario Consumer Reporting Act, Ontario will become the first Canadian province with a US-style credit freeze — a real freeze that blocks new credit inquiries until you lift it. Equifax and TransUnion have been given an additional year to meet the security-freeze suspension requirements. Other provinces have not announced parallel legislation as of mid-2026.
The CRA imposter scam — Canada's #1 government-impersonation pattern
The CRA imposter scam is the Canadian version of the IRS imposter scam — a caller, text, or email claiming to be from the Canada Revenue Agency demanding immediate payment for a fictitious tax debt, often with the threat of arrest. It is the single most common government-impersonation scam in Canada and the CAFC has been tracking it for over a decade.
The defining facts that collapse the scam:
—The CRA does not threaten arrest by phone, text, or email. Real CRA contact is in writing, with a published case number, on official CRA letterhead, and through your CRA My Account portal. Threats of imminent arrest are always fake.
—The CRA does not demand payment by gift card, cryptocurrency, Interac e-Transfer, or wire transfer. The list of payment methods scammers prefer is the list of payment methods the CRA does not use. CRA payments go via your bank account or via My Account, period.
—The CRA does not call demanding personal information. If you genuinely owe taxes, the CRA already has your SIN. They will never cold-call asking for your SIN, your bank account, your credit card, or your driver's licence.
—Suspicious CRA contact: report to the CRA scam line. Forward suspicious emails to phishing@cisa.gc.ca and report all CRA imposter contacts to the CAFC via the joint reporting system or 1-888-495-8501.
The same structural pattern animates the broader digital-arrest scam family — a fake authority figure on a phone call demanding immediate payment to avoid arrest. The CRA imposter is the Canadian variant.
The 8-step playbook
This is the sequence to follow when a scam has just happened to you (or to someone you are helping) in Canada in 2026.
1Call your bank's fraud line in the first hour. Number on the back of your card. 'I am the victim of fraud and want to dispute the transaction.' Get a written reference number. For Interac e-Transfers, give them the transaction reference from your confirmation. Time matters more than completeness — call first, gather the rest after.
2Report at reportcyberandfraud.canada.ca. The joint RCMP/CAFC system launched November 2025. Online filing reaches the CAFC, RCMP NC3, and your local police force simultaneously. Phone alternative: 1-888-495-8501.
3File a separate local police report. Even with the new joint system, your local police of jurisdiction (non-emergency line) generates a separate police report number that banks, insurance companies, and credit bureaus will ask for.
4Place fraud alerts with both Equifax Canada (1-800-465-7166) and TransUnion Canada (1-800-663-9980). Both, separately. Free, last 6 years at Equifax, renewable at TransUnion.
5For investment fraud, add your provincial securities regulator. OSC (Ontario), AMF (Quebec), ASC (Alberta), BCSC (BC), or your provincial body. National umbrella at securities-administrators.ca.
6Document everything before evidence vanishes. Screenshots of conversations, scammer numbers and emails, Interac confirmations, bank statements, any websites involved. Compile as one PDF. Scammer accounts disappear within hours.
7If your bank refuses to refund, escalate to OBSI at obsi.ca. Since 1 November 2024, OBSI is the sole external complaints body. Wait for the bank's final-decision letter before filing. Free, independent, binding on the bank. Bring all your documentation. For the broader by-payment-method recovery playbook, see our 72-hour recovery piece. 8Block, save, and watch for recovery scammers. The original scammer's data is on a victim list within hours. "Recovery agents" who call to retrieve your money for an upfront fee are running a second scam. Real Canadian recovery channels — your bank, the CAFC, OBSI, your provincial securities regulator — never charge a fee. See our recovery scams piece for the full pattern. Recovery scammers find Canadian victims within days of the original loss. They will identify themselves as "RCMP recovery specialists," "OBSI investigators," "private fraud consultants," or "FBI international liaison" — none of which exist as paid services that contact you. Every legitimate Canadian recovery channel (your bank, the CAFC, OBSI, the provincial securities regulators, the RCMP) operates for free and never makes outbound calls to offer recovery for a fee. If anyone is asking you to pay to get your money back, you are talking to a second scammer.
Who to call for what — the quick directory
—Joint RCMP/CAFC fraud and cybercrime reporting: reportcyberandfraud.canada.ca, or 1-888-495-8501 (CAFC line).
—Local police (non-emergency): Your municipal or provincial police non-emergency line. 911 only for active danger.
—Bank fraud disputes: The fraud number on the back of your debit/credit card. Each bank has a 24/7 fraud line.
—Bank dispute external escalation: Ombudsman for Banking Services and Investments (OBSI) — obsi.ca. Sole external body since 1 November 2024.
—Investment fraud: Your provincial securities regulator (OSC, AMF, ASC, BCSC, etc.) plus the national CSA umbrella at securities-administrators.ca.
—Credit bureaus — fraud alerts: Equifax Canada 1-800-465-7166; TransUnion Canada 1-800-663-9980. Both, separately.
—Privacy breaches and identity theft (federal): Office of the Privacy Commissioner of Canada — priv.gc.ca. For provincial privacy authorities, check your province.
—Consumer-protection / non-financial complaints: Competition Bureau Canada — competitionbureau.gc.ca. Or your provincial consumer-affairs office.
—Financial Consumer Agency of Canada (FCAC): fcac.gc.ca. Regulates how banks treat customers. Useful for systemic bank-conduct complaints, less so for individual restitution.
—CRA scam reporting: phishing@cisa.gc.ca for emails. Report via the joint CAFC/RCMP system for everything else.
The rule that survives every version of every scam: any unsolicited contact — phone, text, email, social media — asking you to send money or to "verify your account" by transferring funds is a scam, in Canada and everywhere else, until you have called the institution back on a number you found yourself. The new joint reporting system makes filing faster. The CRA does not text. The CAFC will not call you offering recovery. Everything else is detail.
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Common questions about reporting a Canadian scam
What is the new Canadian fraud reporting system launched in 2025?
In November 2025 the RCMP and the Canadian Anti-Fraud Centre (CAFC) jointly launched a new national reporting platform at reportcyberandfraud.canada.ca. It replaces the older fragmented intake (where victims often had to file separately with the CAFC, local police, and the RCMP's National Cybercrime Coordination Centre). The new platform is run jointly by the CAFC and the RCMP's National Cybercrime Coordination Centre (NC3). You can report anonymously or with full details. The phone equivalent is 1-888-495-8501 (the same CAFC line that's been operational for years). The system is designed for both victims and witnesses, and it routes serious cases to the relevant police force automatically.
Does my Canadian bank have to refund me if I was scammed?
Not automatically — and this is the critical difference between Canada and the UK as of 2026. Canada has no equivalent of the UK Payment Systems Regulator's mandatory reimbursement rule. Banks investigate each fraud claim individually, assess whether the customer 'contributed' to the loss, and refund only when the loss meets their policy criteria. Zero liability is not automatic; you have to claim and document it. Under most Canadian bank contracts, you have 30 days from your statement date to dispute a transaction. If your bank denies the claim, the Ombudsman for Banking Services and Investments (OBSI) became the sole external complaints body for all Canadian banks on 1 November 2024 — meaning every Canadian bank's final-decision escalation now lands at OBSI, not at competing ombudsman offices as before.
Where do I report an Interac e-Transfer scam?
Start with your bank's fraud line — the number on the back of your debit card, not general customer service. State explicitly: 'I am the victim of fraud' and ask them to investigate the e-Transfer for recall or reversal. Then file with the CAFC at reportcyberandfraud.canada.ca or 1-888-495-8501 with the recipient's name, the transaction reference number from your e-Transfer confirmation, the date, and the amount. If your bank refuses to refund, request a final decision letter and then escalate to OBSI. The Canada Revenue Agency does NOT use Interac e-Transfer to collect or disburse payments — any e-Transfer claiming to be from the CRA is a scam by definition.
What if the scam was investment fraud?
Report it three places: (1) your provincial securities regulator — for most provinces this is the Ontario Securities Commission (OSC), Alberta Securities Commission (ASC), or British Columbia Securities Commission (BCSC); in Quebec it's the Autorité des marchés financiers (AMF). These are coordinated nationally under the Canadian Securities Administrators (CSA) umbrella. (2) The CAFC. (3) Your local police. The CSA in collaboration with the Canadian Investment Regulatory Organization (CIRO) deactivated more than 3,900 fake investment platforms and 6,900 individual URLs between June and November 2025 alone, so reports do translate into enforcement.
How do I freeze my credit in Canada after identity theft?
As of 2026, Canada does not have a federally mandated credit freeze law equivalent to the US system. What Canadian credit bureaus offer is the softer 'fraud alert' — a flag on your file that instructs lenders to take extra verification steps before extending credit. Place one with Equifax Canada at 1-800-465-7166 and separately with TransUnion Canada at 1-800-663-9980. Equifax alerts last up to 6 years; TransUnion alerts are renewable. You must place both — there is no central freeze. Ontario's Consumer Reporting Act will introduce true credit freezes on 1 July 2026 (with Equifax and TransUnion given an additional year to comply with the security-freeze suspension requirements), making Ontario the first province with US-style protection. Other provinces remain on the fraud-alert system.
What if the scammer is in another country?
You still report through the same Canadian channels — the new joint RCMP/CAFC system is designed to route cross-border cases. The CAFC shares information with international law enforcement partners including the FBI's IC3, the UK's Report Fraud (formerly Action Fraud), Australia's ScamWatch and the National Anti-Scam Centre, and Europol. Recovery odds are usually worse on international cases because of legal complexity, but reporting still matters — the pattern data is what justifies coordinated takedowns of large international operations. Your bank may also be able to initiate an international wire recall if you act within hours.
Sources & further reading
Every figure in this piece is drawn from these Canadian authorities. Click any of them to verify.