New identity theft legislation welcomed by the Canadian Bankers Association

Last modified: 27 October 2009

For Immediate Release
October 27, 2009

Toronto, ON – The Canadian Bankers Association (CBA) today applauded federal Justice Minister Rob Nicholson, the Government of Canada and all Parliamentarians for passing legislation that will protect Canadians against identity theft.

“The CBA has long advocated for the need to make identity theft a defined offence under the Criminal Code in Canada,” said Nancy Hughes Anthony, President and CEO of the CBA. “With this legislation, law enforcement agencies will now be able to charge criminals for possessing the personal information of others before it is used for fraud or theft. Police were not able to do that before, so this is a huge step forward.”

Identity theft, the theft of personal information, can lead to a wide variety of crimes – from financial fraud and forgery to real estate fraud and the abuse of government programs. Banks take their role in the fight against financial fraud extremely seriously and have highly sophisticated security systems and trained experts to protect customers’ information and to protect them from financial fraud. They also work closely with law enforcement on their investigations and help educate consumers about steps they can take to minimize the risk of becoming a victim.

For more information on identity theft, financial fraud and consumer protection tips, visit the CBA website at www.cba.ca/fraud.

The Canadian Bankers Association (CBA) works on behalf of 50 domestic chartered banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 263,400 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada’s economy. The Association also promotes financial literacy to help Canadians make informed financial decisions.

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For more information:
Andrew Addison
Canadian Bankers Association
Tel: (416) 362-6093, ext. 220
Cell: (416) 587-7733
E-mail: aaddison@cba.ca