February 4, 2020
Canadian Bankers Association Statement
Ensuring high customer satisfaction is a longstanding priority for banks in Canada and they
already comply with multiple codes of conduct. Banks are also subject to strong oversight by the
federal government, regulators and related agencies, and work closely with them on consumer
protection and education. Further, they must adhere to numerous requirements, including to
providing customers clear, simple and straightforward disclosures and communications. This
applies to their client agreements.
Banks in Canada go to great lengths to protect and support clients affected by fraud or
unauthorized activity. They constantly upgrade their security systems and invest significant
resources into their security infrastructure, including layered fraud detection and mitigation
technologies. All fraud claims are investigated and relevant facts are considered before making
a decision. Customers who have met their security responsibilities are reimbursed.
Security is a shared responsibility. In today’s digitalized environment, it’s crucial that Canadians
stay vigilant, adhere to safe online practices and distinguish between legitimate requests and
attempted fraud.
Mathieu Labrèche   Director, Media Strategy   Directeur, Stratégie médiatique