Ottawa, June 15: A newly proposed bill would require companies in Canada’s strategic sectors – energy, telecommunications, banking and transportation – to denounce cyber-attacks and any malicious activity, or potentially face financial infractions, Public Safety Minister Marco Mendicino said.
“In the 21st century, cyber security is national security – and this new legislation will ensure that Canada’s defenses meet the moment,” Mendicino said on Tuesday. “Most importantly, it will help both the public and private sectors better protect themselves against cyberattacks.”
Mendicino said the bill, dubbed An Act Respecting Cyver Security (ARCS), is one part of the country’s robust strategy to defend critical infrastructure that Canadians rely on.
The bill aims to increase cyber security by requiring financial, telecommunication, energy and transportation companies to inform the competent authorities about cyber-attacks targeting them and reinforce the security of their system to avoid further incidents.
Defense Minister Anita Anand praised the announcement saying it demonstrates the Government’s commitment to national security.
“These legislative measures will help to further protect Canadians and defend our critical infrastructure in an evolving and increasingly complex digital environment,” she said.
However, if the targeted entities fail to report the cyberattacks to the Government, they would face significant financial penalties.
The Canadian Government has spent some $3.7 billion to ensure cyber security in the period 2018-2022, according to published reports.
(UNI)
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