cyber security

Canadian regulator takes lighter view of Bitcoin

05/21/2013 By Zak

It appears Canada’s anti-money laundering regulator will leave Bitcoin exchanges in the country alone for now.

LibertyBit, which exchanges the virtual currency Bitcoin for U.S. and Canadian dollars, has been told it does not have to register with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), said CEO Paul Szczesny, via email on Tuesday.

FINTRAC, which was created in 2000, is responsible for investigating and preventing money-laundering and activities used to fund terrorism.

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69% of surveyed Canadian businesses experienced cyber attack in a 12-month period: report

05/20/2013 By Zak

“Across business communities, there is a general lack of strategy, procedures and trained personnel to combat cyber crime,” notes the survey report, Study of the Impact of Cyber Crime on Businesses in Canada: Fighting Cybercrime Together.

The report suggests two factors could be responsible for the lack of preparedness: the damages (financial or reputational) caused by cyber attacks have not been significant to merit shifts in attitudes and behaviour; and/or organizations do not have enough awareness and knowledge of what strategies they should be implementing to minimize their vulnerability against such attacks.

Business unprepared to combat ‘skyrocketing’ cyber crime, study warns

05/20/2013 By Zak

Canada has become a premier target for cyber crime in recent years, while most small business and online users who are attacked are both unaware they are being hacked and unprepared to defend themselves, a leading cyber security group found.

Nearly 70 per cent of finance, airline, telecom, utilities and aerospace and defense industries experienced some sort of cyber crime within a span of one year, a survey of 520 Canadian businesses conducted by the International Cyber Security Protection Alliance found.

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Filed Under: Canada Cyber Security News Tagged With: Canada, cyber attacks, cyber security, cybercrime, news, telecom, threat

#OpPetrol Attack On Local Oil And Gas Companies

05/20/2013 By Zak

Members of the hacktivist collective Anonymous have announced plans to launch a cyberattack targeting the international oil and gas industry this week. The group has said that the attacks, dubbed Operation Petrol, are slated for June 20 and will involve the United States, Canada, England, Israel, Russia, China and Saudi Arabia.

In a video announcing plans for the attack, Anonymous said that their motivation is political.

Cyber heist: Thieves drain ATMs from Canada, 26 other countries of $45 million

05/14/2013 By Zak

NEW YORK — The sophistication of a global network of thieves who drained cash machines around the globe of an astonishing $45 million in mere hours sent ripples through the security world, not merely for the size of the operation and ease with which it was carried out, but also for the threat that more such thefts may be in store.

Seven people were arrested in the U.S., accused of operating the New York cell of what prosecutors said was a network that carried out thefts at ATMs in 27 countries from Canada to Russia. Law enforcement agencies from more than a dozen nations were involved in the investigation, U.S. prosecutors in New York said Thursday.

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Filed Under: Canada Cyber Security News Tagged With: ATM, Canada, cyber attacks, cyber security, cybercrime, news, security breach, theft

NDP call for broader probe into data breaches, identity fraud

05/14/2013 By Zak

OTTAWA — The opposition New Democrats will ask a Commons committee next week to widen the scope of its investigation into identity fraud and probe the reasons behind thousands of data breaches that have plagued the federal government over the past 10 years.

The NDP argue such a study is needed to see what’s being done to solve “this massive problem,” and reduce the risk that future breaches could lead to someone having their identity stolen.

“We have no idea how many cases of data loss or breach or hacking have resulted in Canadians having their personal information or financial information stolen,” NDP MP Charlie Angus said. “We need to find that out.”

$20m to fund cyber strategies

05/06/2013 By Zak

Stating that “sophisticated threats demand sophisticated responses,” Defence Minister Peter MacKay has committed $20 million to fund projects aimed at making Canada safer from cyber attacks.

Among the 26 science and technology initiatives to receive funding is a joint government-academic project to develop capabilities to “identify, locate and mitigate potential wireless security threats,” strengthen Canada’s digital infrastructure, and improve responses to cyber threats. The partners in the project are Defence Research and Development Canada, Laval University in Quebec City and the University of Western Ontario in London.

Government could be handcuffed during cyber attack affecting private sector

05/02/2013 By Zak

OTTAWA — A targeted cyber attack on a private company or organization controlling a piece of Canada’s critical infrastructure could leave the federal government on the sidelines, able to offer help but with no guarantee that it would be accepted.

Nor would there be any way for the federal government to force companies to accept its involvement should a targeted hack take down critical infrastructure such as electrical plants, water systems or rail, an issue identified during two cyber exercises last year.

Canadian regulator takes lighter view of Bitcoin

69% of surveyed Canadian businesses experienced cyber attack in a 12-month period: report

Business unprepared to combat ‘skyrocketing’ cyber crime, study warns

#OpPetrol Attack On Local Oil And Gas Companies

Cyber heist: Thieves drain ATMs from Canada, 26 other countries of $45 million

NDP call for broader probe into data breaches, identity fraud

$20m to fund cyber strategies

Government could be handcuffed during cyber attack affecting private sector

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