Don Davies

[Main Estimates, 2026-27, June 8th, 2026]

Mr. Speaker, first of all, my heart goes out to those employees, and I agree with my hon. colleague that the SME sector is critical to Canada's growth. What I would say is that Quebec is leading the country in advocating changes to the way banks are held responsible for these fraud situations, so I think we should study the Quebec example and apply those very valid mechanisms at the federal level as well.

[Main Estimates, 2026-27, June 8th, 2026]

Yes, Mr. Speaker, this is going to take a multi-jurisdictional approach. The member is quite right that the provinces have a role to play, but the federal government regulates banks and the banking sector.

One of my children has a disability, and every January or February I make a contribution to her RDSP. When I do that, because I have made only one contribution a year, I have to answer about 20 minutes of questions to assess my level of investor knowledge, and yet I just read out examples of a senior walking into a bank who just opened an account and is wiring hundreds of thousands of dollars to Vietnam, and they get one question asked of them.

I think that banks can and should be doing much more to flag these problems, and perhaps we can at least help some of these seniors who are being defrauded out of their life savings.

[Main Estimates, 2026-27, June 8th, 2026]

Mr. Speaker, my hon. colleague is right. The problem is staggering. If the Canadian Anti-Fraud Centre said that Canadians lost $638 million to fraud in 2024, and only 5% to 10% is being reported, we are talking about $6 billion to $12 billion a year being lost to fraud in this country.

I know we cannot stop it entirely, but what we can and should be doing is taking measures. The government should really look at the amendments the NDP put forward, because we can place more responsibility on banks, which are financial experts, to watch for the red flags and maybe ask questions so that when vulnerable people are going to banks and being defrauded, at least that is addressed in some meaningful manner.

[Main Estimates, 2026-27, June 8th, 2026]

Mr. Speaker, I will be splitting my time with the hon. member from Milton East—Halton Hills South.

I think we all know that fraud in Canada is a growing problem. Stories are now appearing in the media virtually every week. Data from the Canadian Anti-Fraud Centre shows that Canadians lost $638 million to fraud in 2024. Reported losses to the CAFC since 2021 have now surpassed $2 billion. The rate of frauds being reported remains low, with an estimated only 5% to 10% being reported, so the problem is understated and in the billions of dollars.

We know that fraudsters generally target the most vulnerable people among us, such as seniors, new Canadians and young people. Bank fraud in particular is a significant concern in Canada, yet investigations by financial institutions often end with banks' blaming the very customers who trusted them with protecting their money. This raises the issue of the proper responsibility of banks to their depositors and the role of the federal government in regulating or not regulating them properly.

I would like to share with the House some real examples that have been brought to my attention recently by constituents in Vancouver Kingsway. For case number one, I will read from the letter I received:

“In early September, my dad, a 67 year old retiree called me in a panic. He had just realized he had been scammed out of his entire life savings and more. He was involved in what we believe was a ‘pig butchering’ scam. He was told he was investing in cryptocurrency—he had a wallet which showed incredibly high returns. When he went to withdrawal, he was hit with yet another fee of $90,000 USD to do so. His ‘partner’ who was to be paying the fees to share in the investment suddenly said she didn't have anymore money. This is when he realized.

“...Going through the details of the scam ended up showing that my dad didn't purchase crypto in a typical way. He was directed to the bank to wire money to several different locations. Locally here in Vancouver, then to New York and then finally to Vietnam.

“My dad opened a new account at BMO in April 2025 and thus the transactions begun. Every 10-14 days my dad went to the same branch on Mainland Street in Yaletown and sent anywhere from $100,000-$300,000 USD to accounts based in Vietnam under the guise of ‘purchasing auto parts.’ Every single time he wire transferred the money, the same branch manager signed off on it. No questions asked. By the end of August he had drained most of his RRSPs, remortgaged his home, took out personal loans, and borrowed from family and friends. l'm dumbfounded by the fact that the branch manager at this location never noticed the red flags: a brand new customer, a senior retiree, purchasing nearly $2 million dollars in auto parts from a personal bank account.

“I filed a complaint against BMO.... They refuse to answer if my dad was ever reported to FINTRAC. They replied that he signed off on the wire transfers that stated if he was being coached into cryptocurrency he shouldn't go through with it—none of the wire transfers use that type of language. Further, BMO states that they have a policy in place for prevention of fraud with seniors—obviously this policy wasn't followed in this instance. There has been zero accountability for what happened from BMO. They have said they will not return or refund any of the money and that this was completely my dad's own doing.

“My dad died of a sudden fatal collapse on January 5th, 2026. Months of stress and uncertainty, embarrassment and emotional toll had taken place. He had nothing. Forced to sell his condo to pay off some of his debt but seemingly about to be homeless.

“Fraud is abundant. We read about it all the time. I simply don't understand how the bank could see such large sums of money to be transferred with no regard. And at this point, they simply do not care....

“But I do want something good to come out of his death—more people need to hear stories like this for real change to happen....

“The lack of responsibility by BMO has changed the course of my life. My dad will not get to watch [my or my sisters'] families grow up. He will never financially contribute towards us. We are now left with the bill of his death and bankrupting his estate. lt's a devastating end.”

Example number two is Mrs. L, a 79-year-old senior who was the victim of a devastating financial fraud that resulted in the loss of a significant portion of her retirement life savings. Fraudsters impersonated law enforcement and coerced her into selling her retirement investments in her registered retirement accounts and wiring the money abroad to them from local RBC and TD branches. She lost some $400,000 in her life savings. To add insult to injury, she now faces a significant tax liability from the CRA due to this, despite already having suffered a complete financial loss of much of her retirement savings. Because she withdrew RSP savings, which were then stolen, she now has to pay taxes on these monies, even though they have been lost to her.

The NDP recently moved seven amendments to Bill C-15, the budget 2025 implementation act, no. 1, aimed at strengthening protections for Canadians targeted by bank-related fraud. Unfortunately, Liberals and Conservatives combined to defeat them, and we see nothing addressing this in these estimates. Our amendments would have required banks to reimburse customers who fall victim to consumer-targeted fraud, unless they have been grossly negligent in relation to that fraud. Banks would have also been required to report anonymized consumer-targeted fraud data, so we could get a better understanding of the scope of this problem. The Financial Consumer Agency of Canada would have been required to conduct regular unannounced audits of banks' anti-fraud practices and policies, publish detailed fraud statistics and make its annual fraud report public, so that we could make sure that banks are actually following through on the policies they claim to have. The amendments also sought to make decisions of the Ombudsman for Banking Services and Investments binding.

These measures were recommended by advocacy organizations, including Option consommateurs and Democracy Watch, which argued that without mandatory audits, transparency, and accountability mechanisms, existing anti-fraud rules would remain ineffective.

The United Kingdom recently brought in new rules requiring that a consumer who is a victim of a fraud known as an APP scam, which is a scam wherein the scammer convinces the victim to make a payment, must be reimbursed, unless there is gross negligence on their part. In Quebec, the Consumer Protection Act was recently amended to impose reimbursement obligations on financial institutions in cases of fraud involving a consumer's bank account.

I want to quote Democracy Watch, which noted this:

It is not enough to just require the banks to have policies and procedures in place. The Bank Act was changed in 2018 to add...two provisions requiring banks to have policies, procedures and training to ensure the financial interests of their customers are protected...but the FCAC was not required in those provisions to audit the banks to ensure they comply with those provisions and, as a result, the FCAC has done nothing to ensure they actually comply....

The new anti-bank account fraud measures will also have little effect unless the FCAC is required to conduct regular, unannounced audits and to prosecute and penalize violations...

Option consommateurs noted this:

We believe that an approach that holds banks more accountable will not only allow thousands of Canadians who are victims of fraud to be able to recover their money, but it will also decrease the occurrence of such fraud. By placing greater responsibility on banks, the legislative framework will incentivize these businesses to deploy the appropriate measures to prevent their losses.

The example of the United Kingdom is a clear illustration of this. According to the Payment Systems Regulator, following the entry into force of the new consumer protection framework, the number of claims for...fraud decreased by approximately 15% between October 2024 and June 2025, compared to the same period [the year before].

With the advent of AI and growing technology, the prospects of fraud growing in this country are chilling. Imagine a senior answering the phone and hearing the computer-generated voice of their bank manager or their grandchild, who is asking them to wire money somewhere. This is the kind of technology that exists now, yet we are operating on outdated legislation. Although the government did put a financial crimes agency in the budget, which is a good step forward, it can and should do much more to help protect Canadians from fraud in this country. New Democrats will certainly work together to help make that happen.

[Canada Labour Code, June 8th, 2026]

moved for leave to introduce Bill C-284, An Act to amend the Canada Labour Code (replacement workers).

Mr. Speaker, I rise today to introduce legislation to close a loophole in the Canada Labour Code that allows employers to use outside managers as replacement workers during strikes and lockouts. I thank the member for Courtenay—Alberni for seconding the bill.

In the last Parliament, the NDP secured long overdue federal anti-scab legislation to restore fairness to collective bargaining and to protect workers' rights. However, those rights are undermined when employers can bring in managers from other locations to perform the work of striking or locked-out employees, tilting the balance and prolonging disputes. We saw this during a recent Rogers strike in Abbotsford, British Columbia, where United Steelworkers technicians spent more than four months on the picket line while outside managers performed their work as scabs. No worker should have their right to strike undermined in this way.

The bill would close that loophole and protect free and fair collective bargaining for Canadian workers. I urge all members to support it.

(Motions deemed adopted, bill read the first time and printed)

[Artificial Intelligence, June 4th, 2026]

Mr. Speaker, the government's AI strategy is leaving Canadians dangerously exposed. While this technology can produce benefits, it urgently needs effective regulation and strong guardrails. We know AI is driving mass surveillance, facilitating fraud and threatening jobs. It uses huge amounts of water and energy, and children are being targeted. These are real threats, yet the Liberals sprinted through a shallow consultation and are mouthing the lines of tech billionaires.

Why is the government rushing a reckless AI strategy without ensuring real protections for Canadians—

[Budget 2025 Implementation Act, No. 2, June 3rd, 2026]

Mr. Speaker, New Democrats agree to apply the vote from the previous vote, with New Democrat members voting no.

[Budget 2025 Implementation Act, No. 2, June 3rd, 2026]

Mr. Speaker, New Democrats agree to apply the vote with New Democrat members voting yes.

[Budget 2025 Implementation Act, No. 2, June 3rd, 2026]

Mr. Speaker, New Democrats agree to apply the vote from the previous vote, with New Democrats voting no.

[Business of Supply, June 2nd, 2026]

Mr. Speaker, it is a genuine privilege to pay tribute to the hon. member for North Vancouver—Capilano on behalf of Canada's New Democrats and to wish him well in his upcoming post as Canada's ambassador to the European Union. I was told I had a minute and a half to say what needed to be said. I find myself with a little bit more time, so I am going to use that time because there is much that can be said about this member.

He has always brought intelligence, collegiality and dedication to service to this place. As a cabinet minister with several critical portfolios, he has made significant contributions to our nation. His voracious reading, attention to detail and commitment to hard work are now the stuff of legend. He centred much of his efforts on preparing Canada for a sustainable future. We know that through his efforts, we have made profound progress on salmon conservation and plastic pollution. In fact, the largest investment in Canadian history in salmon preservation was done because of his efforts.

The House, in its wisdom, has already anticipated my next line, which is that I applaud him for his vision and passion in this regard.

As B.C. members of Parliament, I can say for us that we deeply appreciate the positive impact he has had, in particular, on our province and our coasts. I think the very best that can be said about any elected representative is that they made a difference. Well, the hon. member has certainly done that here in spades. We wish him all the best in his new duties, filling a critical role that will benefit greatly from his skills and talents. I know that he will make a difference in Brussels and do Canada proud.

As he does so, I urge him to hearken back to his early days as a Saskatchewan Young New Democrat, an excellent pedigree, and in times of doubt or difficulty, never hesitate to ask, what would Tommy Douglas have done?

I thank the member for his service, and we wish him all the best.