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CYBER SECURITY

A new law requires companies in Canada to report hacking and cyber attacks

A new law requires companies in Canada to report hacking and cyber attacks
The Siliconreview
15 June, 2022

Both private and public sectors will be able to protect themselves better.

According to a new legislation Bill C-26, Canadian businesses operating in critical infrastructure sectors would now be required to report cyber-attacks to the federal government and would have to fortify their cyber systems. The legislation recognizes finance, telecommunications, energy, and transportation as vital sectors. A lot of thought was given to identifying the sectors which are vital to national security and public safety. The new legislation would give the government broader powers to secure the country's telecommunications systems against cyber security threats.

Both private and public sectors will be able to protect themselves better. Sophisticated networks like 5G have helped Canada's critical infrastructure sectors to become more interconnected and integrated, but they are also increasingly vulnerable to newer forms of cyber threats. Hacking incidents are on the rise but remain under-reported because companies are not required under current laws to disclose cyber-attacks when they happen. Bill C-26, which is yet to be debated or passed, would also bar telecom companies from using the products and services of high-risk suppliers. Canada last month banned the use of 5G gear made by China's Huawei Technologies Co Ltd and ZTE Corp to protect national security, joining the United States, Britain, Australia, and New Zealand, which have already banned the equipment.