Mr. Speaker, total losses from telemarketing scams are estimated to be around $4 billion.
Telemarketing scams often target vulnerable people, especially the elderly. From January to September of this year, 56% of victims were over 60 years old and 85% of these victims lost more than $5,000.
This is a very serious crime that threatens the financial security of our parents, grandparents and all Canadians. Tough new measures have just been introduced to attack these telemarketing scams. Bill C-20 will crack down on criminals by amending the misleading advertising provisions of Canada's Competition Act.
I call on my colleagues in this House to take action against telemarketing crime. I ask them to inform their constituents about programs like PhoneBusters and SeniorBusters, arm them with information to guard against these scams, and support the new crime fighting legislation before the House.