#CyberFLASH: New cybersecurity network aims to share data on emerging threats

malware-hacking-cybersecurityLeaders of some of Canada’s largest industries are creating a new network to help businesses and the public stay abreast of emerging cyber threats from malware, hackers and online criminals.

“The threat is constantly evolving. The kinds of attacks, viruses and malware are rapidly changing. Nobody has the capability of staying ahead of it all the time,” said John Manley, president of the Canadian Council of Chief Executives, which is spearheading the program.

Billed as the CCTX — or the Canadian Cyber Threat Exchange — it is set to launch in early 2016.

It will be run as an independent, not-for-profit organization open to business and institutions of all sizes. Its founding members include Air Canada, Bell Canada, CN Rail and HydroOne, as well as Royal Bank and TD.

Confidentiality around cyber breaches​

A CBC News investigation into cybercrime this fall determined Canada lags behind other countries when it comes to tracking, policing and thwarting cybercrime. Until now, Canada has had no system to track cyber incidents and private companies are not required to alert the public or customers when there is a breach.

Manley says most Canadian companies fear publicly acknowledging being a victim of a cyberattack for fear of losing business.

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