Conservative Leader Pierre Poilievre is promising tough new measures to protect Canadian seniors from financial scams.
Poilievre says a Conservative government would force banks and cell phone companies to detect suspicious activity, flag potential threats, and block criminals in real time.
Poilievre stresses that no senior should lose a lifetime of savings to a scammer, and vows to impose penalties on institutions that do not comply.
Under Poilievre’s plan, banks and telecom companies would be required to install mandatory scam detection systems designed to focus on high-risk accounts, particularly those belonging to seniors over 65.
These systems would track unusual or suspect transactions, as well as repeated phishing texts or robocall patterns.
Any worrying signs would trigger an immediate warning, giving victims a chance to confirm whether the transactions are legitimate.
To further protect older Canadians, Poilievre proposes a Senior Transaction Shielding Protocol (STSP).
The STSP would place a 24-hour delay on high-risk transactions for seniors, or for anyone else who requests added protection.
During that time, a verification call and fraud check would be mandatory.
Public reporting on fraud prevention, including statistics on blocked scams and reimbursements, would also be required of banks and cell phone companies.
Poilievre says harsher criminal penalties are needed to deter fraudsters.
His plan includes minimum jail sentences of one year for fraud over $5,000, three years for fraud over $100,000, and five years for fraud that exceeds $1 million.
Poilievre would also introduce a new Criminal Code offence called “willful blind profiteering from fraud,” targeting executives who allow scam activities to continue.
Fines of up to $5 million could be imposed on companies showing intentional neglect in implementing scam prevention measures.
“Imagine working your whole life and saving carefully for retirement, only to have it all stolen by a scammer in seconds,” said Poilievre.
“Over the Lost Liberal Decade, this nightmare has been the reality for thousands of Canadians. It’s devastating for the victims and for any Canadian who worries about their family members being targeted. That is why a new Conservative Government will protect seniors—For a Change.”
Poilievre adds that fear of scams has soared since 2015, yet the institutions able to stop it are not legally required to do so.
His plan would force banks and telecom firms to use up-to-date technology to spot fraud before it happens.
“Fear of scams is a serious source of anxiety for Canadian seniors. A new Conservative government will protect seniors and bring peace of mind to their families by forcing banks and telecom companies to up their game and stop the scam before it happens, not after,” said Poilievre.
“We’ll mandate state-of-the-art real-time fraud detection, transaction shielding for seniors, and public transparency. And will punish scammers with real consequences for their crimes: jails and fines ten times the amount defrauded. Our seniors have earned the right to feel secure in their retirement. It's time we had a government that puts their safety first—For a Change.”
