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Bank of Canada official urges public-private sector defence against cyberattacks

TORONTO — A senior official from the Bank of Canada says government and the private sector need to develop more ways to share information about the cybersecurity threats they’re detecting on a regular basis.

The central bank’s chief operating officer, Filipe Dinis, says that it’s necessary to defend the Canadian economy from the threat of a major cyberattack.

He made the remarks in a speech to a Toronto cybersecurity conference organized by the Information Technology Association of Canada.

Dinis says there have been improvements to the Bank of Canada’s cybersecurity protections over the past five years — including an operations centre in Calgary that can take over the central bank’s critical functions in an emergency.

But he adds the best defence for Canada’s overall economy is broad collaboration and information sharing — particularly in critical industries such as banking, telecommunications, energy and transportation

Dinis suggests that may require new regulatory frameworks or legislation in order to lower barriers that “get in the way” of collaboration between competitors and industries.

This report by The Canadian Press was first published Nov. 12, 2019.

 

The Canadian Press

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