Canada: Financial Sector Assessment Program-Technical Note on Cyber Resilience of the Financial Sector

International Monetary Fund

No 2025/231, IMF Staff Country Reports from International Monetary Fund

Abstract: Cyber risk is highly relevant to the financial sector and financial stability of Canada. According to the Canadian Centre for Cyber Security (CCCS), in 2021, 23.9 percent of finance and insurance enterprises were impacted by cyber security incidents, placing Finance into the top four of the Critical Infrastructure Sectors being targeted by cyber actors. Cyber-attacks on the financial sector have tripled from 2022 to 2023 and these cyber-attacks against Canadian financial institutions (FIs) are increasing in both frequency and sophistication.

Keywords: Ontario securities commission; technology committee; telecommunications advisory committee; resiliency Group; securities telecommunications advisory committee; Cyber risk; Financial sector; Financial sector stability; Global (search for similar items in EconPapers)
Pages: 61
Date: 2025-08-08
New Economics Papers: this item is included in nep-pay
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=569512 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2025/231

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().