The recent decision to prorogue Parliament has left Canadian cybersecurity experts worried, as it killed the federal cybersecurity bill, Bill C-26, which aimed to protect Canada’s critical infrastructure. Experts are urging businesses in critical industries to take steps to protect themselves from cyberattacks in the absence of legislation. Canada is lagging behind its global peers in cybersecurity laws, and the bill’s death has caused it to fall further behind.
Bill C-26 would have required critical industries such as telecommunications, banking, transportation, and energy to implement cybersecurity programs and report incidents. It also aimed to make the federal government’s ban on Huawei and ZTE equipment from Canada’s 5G networks enforceable. However, with the bill’s demise, Canada remains vulnerable to potential threats, and businesses are encouraged to remain proactive in protecting themselves.
Cyberattacks are becoming an increasingly costly problem for Canadian businesses, with recovery expenses reaching $1.2 billion in 2023. Telecom companies are also on high alert for potential cyberespionage campaigns. Industry experts emphasize the importance of proactive measures and urge the revival and prioritization of the cybersecurity bill to introduce vital changes needed to protect Canadians from rising cyber threats.
Original article courtesy of TheGlobeAndMail.com and read Bill C-26.
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