Cyber attacks are also on the horizon for many companies, unfortunately.
Indeed, the question about cyber attacks is no longer “if”, but “when” for many firms that handle sensitive information and/or are part of an information infrastructure.
Countless firms, in other words, with banks among the most targeted.
In getting ready to attend iTech, we found an article posted earlier this week on Reuters that spoke to increased collaboration between business and government in combatting cybercrime.
As reported by Joseph Menn, the FBI is now briefing top bank executives in the U.S. on the current cybercrime environment. Bank security officers and others were brought to more than 40 field offices around the country to join a classified video conference with FBI officers.
The purpose of the briefing was to help the bank executives better understand “who was behind the keyboards,” Federal Bureau of Investigation Executive Assistant Director Richard McFeely told Reuters.
The executives were given one-day security clearances to participate in the video conference, a step that McFeely said is part of a broader effort by the FBI to communicate with victims of cybercrime.
Here in Canada, TD Bank was recently hit by what they called a “targeted” denial of service attack. The attack prevented TD customers from logging to its website and mobile site but had no effect on clients’ personal information or accounts.
Meanwhile, the Canadian Chamber of Commerce is working with U.S. officials on a joint cyber security plan given the vastness of cross-border trading between our two countries.
So when it comes to the very timely cybercrime discussions at iTech, we’ll be there to listen, learn, and contribute to an issue of growing importance to businesses of all sizes across Canada.