Minister of Finance and National Revenue Francois-Philippe Champagne arrives at a cabinet meeting on Parliament Hill in Ottawa on Oct. 9, 2025.

The 2025 federal budget will include plans for a new financial crimes agency that will target money laundering and online fraud, the government announced Monday.

Finance Minister François-Philippe Champagne outlined the initiative on Parliament Hill as part of a series of announcements the government is making ahead of the Nov. 4 budget.

Canadians lost $643-million to fraud in 2024, according to the Canadian Anti-Fraud Centre.

Opinion: Canada lags allies in providing financial-crime guidance to banks, other businesses

The new office will investigate sophisticated schemes that are often linked to organized crime.

The new centre will be part of

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