Day: October 28, 2013

OSFI sets sights on cyber security threats with release of guidanceOSFI sets sights on cyber security threats with release of guidance



Earlier today, the Office of the Superintendent of Financial Institutions Canada (OSFI) issued Cyber Security Self-Assessment Guidance.  The guidance follows on the heels of the release of the U.S. National Institute of Standards and Technology’s (NIST) Preliminary Cybersecurity Framework earlier this month, revelations of billions of dollars lost by cyber crime, and the continuing disclosures about surveillance by the NSA and others.

OSFI described the need for the guidance and how it expects federally regulated financial institutions (FRFIs) to use it as follows:

The increasing frequency and sophistication of recent cyber-attacks has resulted in an elevated risk profile for many organizations around the world.

Computer and Internet Law Updates for 2013-10-27Computer and Internet Law Updates for 2013-10-27