That’s according to the country’s Spring Economic Update for 2026, which was released Tuesday (April 28) and covers, among other things, efforts to combat financial crime.

This includes a ban on crypto ATMs, which the government says would “protect Canadians by shutting down a primary method for scammers to defraud victims and for criminals to place their cash proceeds of crime.”

Consumer fraud, the update says, is growing in “sophistication,” with fraudsters employing technological advances to target their victims. Canadians lost more than $704 million to fraud last year, the report said, bringing total reported losses since 2022 to…