The number of “high impact” cyber incidents reported by Canada’s banks nearly tripled last year, according to the industry’s watchdog.
The increase comes as a federal bill meant to protect Canada’s critical systems — including financial systems — sat idle in parliamentary limbo for months.
“We are concerned with that number growing,” Tolga Yalkin, assistant superintendent at the Office of the Superintendent of Financial Institutions (OSFI), told a parliamentary committee studying the bill Monday evening.
First introduced in the spring of 2022, Bill C-26 would compel companies in the finance, telecommunications, energy and transportation sectors to either shore up their cyber systems against attacks or face expensive
