Stock Market News

Canada wants companies to report cyber attacks and hacking incidents

2022.06.14 23:02

Canada wants companies to report cyber attacks and hacking incidents
FILE PHOTO: Silhouettes of laptop users are seen next to a screen projection of binary code are seen in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

OTTAWA (Reuters) – Canadian businesses operating in critical infrastructure sectors would be required to report cyber attacks to the federal government and would have to fortify their cyber systems under a new law introduced on Tuesday.

The legislation identifies finance, telecommunications, energy and transportation sectors as being vital to national security and public safety, but stops short of naming any companies.

“There was a lot of thought given into identifying which sectors are vital to national security and public safety,” Public Safety Minister Marco Mendicino told reporters, adding that operators of critical infrastructure would be identified after consulting the sectors.

The new legislation would also give Liberal Prime Minister Justin Trudeau’s government broader powers to secure the country’s telecommunications systems against cyber security threats.

“This new legislation … will help both the public and private sectors better protect themselves against cyberattacks,” Mendicino said.

Faster networks like 5G have helped Canada’s critical infrastructure sectors to become more interconnected and integrated, but they are also more vulnerable to newer forms of cyber threats, the government said.

Hacking incidents are on the rise, but they remain under-reported because companies are not required under current laws to disclose cyber attacks when they happen, a senior official said.

Bill C-26, which has not yet been debated or passed, would also bar telecom companies from using the products and services of high-risk suppliers, according to a statement from the government.

The statement did not name any companies, but Canada last month banned the use of 5G gear made by China’s Huawei Technologies Co Ltd and ZTE Corp (HK:0763) to protect national security, joining the United States, Britain, Australia and New Zealand, which have already banned the equipment.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 103,207.65 0.38%
ethereum
Ethereum (ETH) $ 2,340.45 5.74%
tether
Tether (USDT) $ 1.00 0.03%
xrp
XRP (XRP) $ 2.36 3.02%
bnb
BNB (BNB) $ 658.57 5.19%
solana
Solana (SOL) $ 170.81 5.37%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.208772 7.39%
cardano
Cardano (ADA) $ 0.778958 2.77%
tron
TRON (TRX) $ 0.263616 3.60%
staked-ether
Lido Staked Ether (STETH) $ 2,340.17 5.80%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 102,962.59 0.20%
sui
Sui (SUI) $ 3.94 1.37%
chainlink
Chainlink (LINK) $ 15.99 2.34%
avalanche-2
Avalanche (AVAX) $ 23.48 6.11%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,811.22 6.11%
stellar
Stellar (XLM) $ 0.300191 3.01%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 6.64%
hedera-hashgraph
Hedera (HBAR) $ 0.20406 5.09%
bitcoin-cash
Bitcoin Cash (BCH) $ 416.15 0.07%
the-open-network
Toncoin (TON) $ 3.30 2.77%
hyperliquid
Hyperliquid (HYPE) $ 24.69 1.92%
leo-token
LEO Token (LEO) $ 8.72 1.60%
usds
USDS (USDS) $ 1.00 0.00%
litecoin
Litecoin (LTC) $ 103.03 8.67%
polkadot
Polkadot (DOT) $ 5.03 12.73%
weth
WETH (WETH) $ 2,341.75 5.87%
monero
Monero (XMR) $ 317.65 6.47%
bitget-token
Bitget Token (BGB) $ 4.78 6.85%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,488.06 5.32%
pepe
Pepe (PEPE) $ 0.000013 14.70%
pi-network
Pi Network (PI) $ 0.734047 8.21%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.04%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,151.64 0.34%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
whitebit
WhiteBIT Coin (WBT) $ 30.32 0.11%
bittensor
Bittensor (TAO) $ 442.20 3.78%
uniswap
Uniswap (UNI) $ 6.42 4.02%
near
NEAR Protocol (NEAR) $ 2.94 6.42%
aptos
Aptos (APT) $ 5.64 1.93%
dai
Dai (DAI) $ 1.00 0.04%
okb
OKB (OKB) $ 54.78 4.30%
aave
Aave (AAVE) $ 211.79 3.48%
ondo-finance
Ondo (ONDO) $ 1.01 2.86%
susds
sUSDS (SUSDS) $ 1.05 0.05%
internet-computer
Internet Computer (ICP) $ 5.55 6.63%
ethereum-classic
Ethereum Classic (ETC) $ 19.22 4.32%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.100988 2.14%
official-trump
Official Trump (TRUMP) $ 14.19 2.31%