Launch of CSAFE to Combat Fraud in Canada

• •CSAFE launched to enhance fraud prevention across Canadian financial and telecom sectors.
• •Participating institutions share confirmed fraud intelligence on a secure platform.
• •The initiative responds to increasing fraud sophistication using AI and machine learning.

On October 14, 2026, major Canadian financial institutions and telecom providers launched the Cross-Sector Anti-Fraud Exchange (CSAFE) to combat growing fraud. The initiative, developed by EnStream, allows participating institutions to share confirmed fraud intelligence through a single platform. This collaboration aims to enhance fraud detection and prevention, particularly as criminals increasingly use AI and machine learning techniques. CSAFE will enable institutions to identify repeat fraud and strengthen their defenses by aggregating insights from a broader set of confirmed fraud events. The platform operates under a defined governance framework, ensuring secure data sharing among participants. CSAFE is expected to significantly improve the fraud management processes of its members, which include Bell, BMO, CIBC, Desjardins, National Bank, RBC, Rogers Communications, Scotiabank, and TELUS. The initiative reflects the urgent need for cross-sector collaboration to address the evolving threat landscape in Canada.