Blockchain & Crypto

Companies operating in Canada will have to report cyber attacks

This law will help both public companies and private startups protect themselves from hacking attacks.

Moscow

Companies operating in Canada will have to report cyber attacks. Source: shutterstock.com

Reuters has found that all companies operating in Canada’s critical infrastructure sector have to report hacking attacks to the government according to a new law.

Telecommunications, financial, and cyber sectors are important for the country’s security, hence, they need to be strengthened up to a notch. The companies must strengthen their systems.

Under the new law,Justin Trudeau’s government will receive expanded powers.

“This new legislation will help both the public and private sectors better protect themselves against cyberattacks,” – said Marco Mendicino, minister of Public Safety.

Moreover, 5G networks have become quintessential for much faster productive work in the country, however, this cyber system has become more susceptible to hacker attacks. 

There are more and more hacking attacks on a daily basis, yet, companies shouldn’t reveal information about them because according to Canadian law, the startups have no right to disclose information about the cyber attacks.

According to Bill C-26, which has not yet become passed, all telecom companies are not allowed to use products that carry high risks for cybersecurity.

We`ve reported that Mastercard developed a new initiative for Ukrainian startups.

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