Major Canadian companies in the banking, telecommunications and transportation sectors would all have to report cyber attacks to authorities or face fines or criminal penalties under a federal bill introduced in Parliament on June 14th, according to a report.
The Canadian federal government has previously announced a ban on Huawei and ZTE from entering Canadian 5G communications construction. The legislation aims to take more concrete measures to protect the country’s infrastructure in the telecommunications, financial, energy and transportation sectors from potential cyber attacks by Communist China. The Canadian government says the bill could also be applied to everything from pipelines and power systems to banking networks and rail transportation.
In response, Canada’s public safety minister said the bill would more effectively protect facilities and systems critical to national security due to the growing threat of hacking attacks such as electronic espionage and ransomware.
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