Thank you for the question.
Perhaps we could look at two tools in the short term. The goal is to provide tools to companies that face these risks. Now that the fraudsters have access to the information, how can we equip banks and telecommunications companies with tools to prevent the fraudsters from successfully attacking them?
The STIR/SHAKEN standards are included in these tools. Of course, in my view, because the Americans will implement these standards quickly, we can expect fraudsters to come north of the border and to take advantage of a gap in Canada's legislation and regulations.
In my opinion, the STIR/SHAKEN standards are an essential tool because fraudsters use scooping to carry out certain types of identity fraud. This isn't just a matter of robocalls, but also a matter of identity theft.
As for the other tool, I think that the rules for identifying customers should be strengthened. Right now, a social insurance number, a driver's licence or a health insurance card is enough to open a bank account or a telephone account. These pieces of identification are outdated. We must start looking at the issue of digital identity and biometric identity.
Several countries have already transitioned to these higher levels of identification. To protect Canadians, we must consider whether some form of more advanced biometric identification should be required to open accounts.