The federal government in Ottawa has introduced legislation that requires private sector companies to report cyber attacks and disclose information about security risks.
The government bill, which has been introduced in Parliament, is called “Act Respecting Cyber Security” and applies to federally regulated industries such as telecommunications, transportation, finance and energy.
The legislation focuses on cyber threats that are rising around the world such as ransomware.
Canada doesn’t currently have a legal requirement that compels companies to report cyber attacks or address security threats. The legislation gives federal regulators the power to impose fines or issue convictions to ensure compliance among public sector entities.
The growth of fifth generation (5G) wireless technology is leading to increasingly interconnected computer and cyber systems, creating new vulnerabilities, government officials have said.
Prime Minister Justin Trudeau’s government has joined Canada’s closest allies in banning Huawei from 5G infrastructure networks. That decision had been delayed amid a diplomatic feud with China over the arrest of a top Huawei executive on an American extradition order.
