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Good morning, and thank you for the opportunity to address the committee on relevant aspects of C‑15, the Budget Implementation Act.
My name is Alana Barnes, Vice President of Digital Policy, I am joined today by Charles Docherty, Assistant General Counsel and Vice President, Legal and Risk of the Canadian Bankers Association.
The CBA is the voice of more than 60 domestic and foreign banks operating in Canada and advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals.
Let me begin by first addressing the topic of consumer‑driven banking. Our members are fully committed to a resilient, consumer‑centric framework that empowers Canadians to benefit from secure and robust consumer‑driven data exchanges, while ensuring risks are properly managed. For the framework to succeed, it must provide consistent consumer protections and experiences, foster trust by applying common rules to all participants, and leverage existing legislative and regulatory frameworks where feasible to avoid operational complexities.
The other matter I wanted to speak about is the proposed consumer‑targeted fraud amendments to the Bank Act. It is estimated that over 65% of reported scams originate through telecom or digital platforms with scammers using channels such as social media, SMS, phone calls or email. That is why the CBA spearheaded the development of a new, cross‑sector initiative to address scams in Canada – the Canadian Anti‑Scam Coalition (Coalition). This Coalition brings together many of Canada’s largest and most‑well known organizations from the financial, telecom, technology, law enforcement, and government sectors in an unprecedented, unified response that aims to make it much harder for fraudsters to succeed. By sharing intelligence, coordinating industry solutions, and raising public awareness, the Coalition enhances and augments the individual efforts of its members, and helps to protect the finances, families, and futures of Canadians.
Thank you for the opportunity to appear this morning and we look forward to engaging with the Committee and answering your questions.