Canadian Security Magazine

New federal investment to combat cyber crime

By Canadian Security   

News Public Sector

The Federal Government recently announced that it is spending $237 million over the next five years to beef the nation's cyber security.

A fresh investment of $142.6 million is in addition to $94.4 that was already earmarked in the Economic Action Plan 2015.

“As long as our digital infrastructure continues to evolve, there will always be those who try to exploit vulnerabilities to undermine Canada’s national security, public safety and economic prosperity. Collaboration and information-sharing with critical infrastructure sectors and private sector partners is our best defence to protect our essential cyber systems,” said Steven Blaney, Canada’s Minister of Public Safety and Emergency Preparedness, in a statement.

According to the government, the investment will also be used for resources and training, helping to develop policing expertise in identifying and disrupting cybercrime.

In 2013, the Canadian Anti-Fraud Centre (CAFC) received over 16,000 complaints of cyber-related fraud (email and website scams), accounting for more than $29 million in reported losses.

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