Tag: cyber security

Cyber threats, information sharing and The Digital Privacy ActCyber threats, information sharing and The Digital Privacy Act

Cyber security is top of mind these days in corporate boardrooms, governments, and with consumers. Last week was exemplary with more reports of hacks and governments moving forward with measures attempting to address the growing threats.

The New York Times reported that bank hackers stole millions using malware in a scam that allegedly involved an attack on more than 100 banks and other FIs in 30 nations. This followed a series of seemingly unending reports of attacks against other organizations.

Faced with massive loss of confidence in U.S.…

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.

Cyber security and lawyersCyber security and lawyers

If the past week is any indication, cybersecurity will continue to be an issue that will have to be kept top of mind for lawyers, individuals and organizations. Here are a few of the top stories:

  • Symanetc reported that cybercrime is costing Canadians $3 billion US annually.
  • Adobe reported a massive security breach affecting 2.9 million customers. Some of its confidential source code was also accessed.
  • Thirteen hackers associated with Anonymous were indicted for cyber-attacks against targets that refused to process payments for WikiLeaks, the anti-secrecy website founded by Julian Assange.